Nomura Asset Management Co. Ltd. Acquires 178,850 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nomura Asset Management Co. Ltd. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,658,494 shares of the wireless technology company's stock after buying an additional 178,850 shares during the quarter. QUALCOMM makes up about 0.8% of Nomura Asset Management Co. Ltd.'s investment portfolio, making the stock its 15th biggest holding. Nomura Asset Management Co. Ltd. owned approximately 0.15% of QUALCOMM worth $254,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CreativeOne Wealth LLC boosted its stake in QUALCOMM by 36.3% in the third quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company's stock valued at $1,312,000 after acquiring an additional 2,056 shares during the period. National Wealth Management Group LLC bought a new stake in QUALCOMM in the third quarter valued at $431,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in QUALCOMM by 10.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 774,210 shares of the wireless technology company's stock valued at $131,654,000 after buying an additional 71,644 shares during the last quarter. Boussard & Gavaudan Investment Management LLP bought a new position in shares of QUALCOMM during the third quarter worth about $20,008,000. Finally, Public Sector Pension Investment Board lifted its position in QUALCOMM by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company's stock valued at $8,210,000 after purchasing an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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QUALCOMM Stock Down 3.3 %

QCOM stock traded down $5.25 during midday trading on Friday, reaching $152.72. The company had a trading volume of 8,915,861 shares, compared to its average volume of 8,605,322. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average of $164.16 and a two-hundred day moving average of $163.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 over the last three months. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Benchmark restated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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.