QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Raised by Access Financial Services Inc.

Access Financial Services Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 35.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,680 shares of the wireless technology company’s stock after acquiring an additional 2,794 shares during the period. Access Financial Services Inc.’s holdings in QUALCOMM were worth $1,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $189.88.

QUALCOMM Stock Down 2.5%

QCOM stock opened at $154.72 on Monday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm has a 50 day simple moving average of $145.85 and a 200 day simple moving average of $155.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $169.88 billion, a PE ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 over the last 90 days. 0.08% of the stock is owned by company insiders.

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.