Dai Ichi Life Insurance Company Ltd Purchases 84,143 Shares of QUALCOMM Incorporated (QCOM)
Dai Ichi Life Insurance Company Ltd raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 89.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,017 shares of the wireless technology company’s stock after acquiring an additional 84,143 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in QUALCOMM were worth $9,830,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Artisan Partners Limited Partnership raised its stake in shares of QUALCOMM by 9.0% in the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock worth $541,521,000 after buying an additional 783,394 shares during the period. Veritas Asset Management LLP bought a new position in shares of QUALCOMM in the second quarter worth about $440,415,000. Legal & General Group Plc raised its stake in shares of QUALCOMM by 1.8% in the second quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock worth $436,076,000 after buying an additional 137,733 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of QUALCOMM by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock worth $405,008,000 after buying an additional 439,180 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after buying an additional 1,544,792 shares during the period. 76.93% of the stock is currently owned by institutional investors.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.57 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $95,186.84, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company’s revenue was down 3.5% compared to the same quarter last year. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.53%. QUALCOMM’s payout ratio is 138.18%.
Several research analysts have recently commented on QCOM shares. Mizuho reaffirmed a “buy” rating and issued a $65.00 price objective on shares of QUALCOMM in a research note on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, October 17th. Canaccord Genuity lifted their target price on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, UBS AG decreased their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.62.
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In related news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold 25,837 shares of company stock worth $1,512,049 in the last 90 days. Company insiders own 0.24% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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