Asahi Life Asset Management CO. LTD. Sells 150 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Asahi Life Asset Management CO. LTD. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,055 shares of the wireless technology company’s stock after selling 150 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in QUALCOMM were worth $623,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in QCOM. Banque Transatlantique SA bought a new position in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter valued at about $30,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $186.39.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $157.46 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The stock has a 50 day moving average of $152.83 and a 200-day moving average of $155.01. The company has a market capitalization of $172.89 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.03 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

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.