Axxcess Wealth Management LLC Sells 2,271 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Axxcess Wealth Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,139 shares of the wireless technology company’s stock after selling 2,271 shares during the quarter. Axxcess Wealth Management LLC’s holdings in QUALCOMM were worth $3,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after acquiring an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares in the last quarter. Barclays PLC boosted its position in QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after purchasing an additional 1,842,868 shares in the last quarter. Invesco Ltd. grew its stake in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after purchasing an additional 1,253,173 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after buying an additional 1,090,504 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM traded down $0.46 during trading on Friday, hitting $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $183.19. The business has a 50 day moving average price of $167.69 and a two-hundred day moving average price of $146.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 43.01%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI initiated coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. Finally, Susquehanna lifted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,260 shares of company stock valued at $7,429,728. Insiders own 0.08% of the company’s stock.

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.