Resona Asset Management Co. Ltd. Invests $50.64 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Resona Asset Management Co. Ltd. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 328,567 shares of the wireless technology company's stock, valued at approximately $50,639,000.

Several other institutional investors have also modified their holdings of QCOM. Nordea Investment Management AB boosted its holdings in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. boosted its holdings in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in QUALCOMM in the fourth quarter worth $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Moderate Buy" and an average price target of $205.32.

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Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $2.26 during mid-day trading on Monday, hitting $129.72. The company had a trading volume of 17,928,990 shares, compared to its average volume of 8,719,977. The company has a market capitalization of $143.47 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.95 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock's 50 day moving average price is $161.74 and its 200-day moving average price is $163.05.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

QUALCOMM Company 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.