Axxcess Wealth Management LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Axxcess Wealth Management LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,716 shares of the wireless technology company’s stock after purchasing an additional 3,626 shares during the quarter. Axxcess Wealth Management LLC’s holdings in QUALCOMM were worth $5,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter worth about $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the third quarter valued at about $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.1 %

Shares of QCOM stock opened at $156.29 on Wednesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s fifty day moving average is $164.56 and its 200-day moving average is $164.19. The stock has a market cap of $172.86 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Susquehanna decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.