Accel Wealth Management Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Accel Wealth Management trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,662 shares of the wireless technology company’s stock after selling 92 shares during the period. Accel Wealth Management’s holdings in QUALCOMM were worth $620,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Alps Advisors Inc. increased its position in QUALCOMM by 460.2% during the 3rd quarter. Alps Advisors Inc. now owns 55,261 shares of the wireless technology company’s stock worth $6,137,000 after purchasing an additional 45,397 shares in the last quarter. Legacy Advisors LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $1,112,000. Kingfisher Capital LLC increased its position in QUALCOMM by 0.5% during the 3rd quarter. Kingfisher Capital LLC now owns 34,848 shares of the wireless technology company’s stock worth $3,870,000 after purchasing an additional 189 shares in the last quarter. KPP Advisory Services LLC acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $218,000. Finally, JT Stratford LLC increased its position in QUALCOMM by 6.7% during the 3rd quarter. JT Stratford LLC now owns 2,814 shares of the wireless technology company’s stock worth $313,000 after purchasing an additional 176 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The sale was disclosed in a document filed with the SEC, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the sale, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,185 shares of company stock valued at $7,936,005. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.8 %

Shares of QCOM traded up $3.65 during trading hours on Thursday, reaching $203.81. The company’s stock had a trading volume of 4,996,211 shares, compared to its average volume of 10,966,074. The firm has a market cap of $227.45 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.43 and a beta of 1.27. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $198.20 and a two-hundred day moving average of $170.71.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Argus increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. UBS Group increased their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. KeyCorp increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, Wolfe Research increased their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.13.

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.