Meiji Yasuda Asset Management Co Ltd. Has $16.46 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Meiji Yasuda Asset Management Co Ltd. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,649 shares of the wireless technology company’s stock after purchasing an additional 5,616 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in QUALCOMM were worth $16,462,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC grew its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM during the 1st quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $168.70 on Wednesday. The stock has a market cap of $188.27 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s fifty day moving average is $174.52 and its 200 day moving average is $182.15.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Citigroup raised their target price on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Profile

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.