Axxcess Wealth Management LLC Has $3.64 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Axxcess Wealth Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter worth $32,000. Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter worth $35,000. Finally, Cranbrook Wealth Management LLC raised its stake in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.3 %

Shares of QCOM traded down $0.46 on Friday, reaching $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The business has a 50 day moving average price of $167.69 and a two-hundred day moving average price of $146.59. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.50 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group lifted their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group lifted their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. Wolfe Research raised their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, TD Cowen lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.36.

Insider Activity at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock worth $7,429,728 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.