Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,231 shares of the wireless technology company’s stock after buying an additional 447 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $3,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. raised its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. raised its position in shares of QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 163,963 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Piper Sandler lifted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Barclays lifted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Up 1.4 %

NASDAQ:QCOM traded up $2.28 during trading hours on Wednesday, hitting $163.63. The company’s stock had a trading volume of 6,088,578 shares, compared to its average volume of 8,570,011. The stock has a market capitalization of $182.61 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The stock has a fifty day moving average of $165.43 and a 200-day moving average of $143.97. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.