Meiji Yasuda Life Insurance Co Has $342,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Meiji Yasuda Life Insurance Co trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,715 shares of the wireless technology company’s stock after selling 170 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in QUALCOMM were worth $342,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. increased its position in QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after acquiring an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new position in QUALCOMM during the 4th quarter worth $334,000. Hillsdale Investment Management Inc. lifted its holdings in QUALCOMM by 27.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock worth $190,000 after buying an additional 280 shares during the period. Quest Partners LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $375,000. Finally, CreativeOne Wealth LLC increased its stake in shares of QUALCOMM by 37.7% in the fourth quarter. CreativeOne Wealth LLC now owns 3,703 shares of the wireless technology company’s stock valued at $536,000 after buying an additional 1,014 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Mizuho lifted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Trading Down 0.2 %

QCOM opened at $168.30 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market capitalization of $187.82 billion, a PE ratio of 22.62, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company’s 50-day moving average is $173.71 and its 200 day moving average is $182.05.

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

QUALCOMM Dividend Announcement

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

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

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.