Axxcess Wealth Management LLC Sells 875 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Axxcess Wealth Management LLC lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,264 shares of the wireless technology company’s stock after selling 875 shares during the quarter. Axxcess Wealth Management LLC’s holdings in QUALCOMM were worth $4,108,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Grandview Asset Management LLC lifted its holdings in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the period. Tealwood Asset Management Inc. increased its holdings in QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares during the last quarter. VERITY Wealth Advisors boosted its stake in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after acquiring an additional 64 shares during the last quarter. SlateStone Wealth LLC grew its position in shares of QUALCOMM by 1.7% during the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after acquiring an additional 65 shares during the period. Finally, Verus Capital Partners LLC lifted its stake in QUALCOMM by 1.4% in the first quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock valued at $774,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Mizuho lifted their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley raised their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Susquehanna boosted their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Price Performance

QUALCOMM stock traded up $4.66 during mid-day trading on Friday, hitting $180.05. The stock had a trading volume of 6,358,729 shares, compared to its average volume of 9,185,354. The firm has a market capitalization of $200.94 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.20 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $204.47 and its 200 day moving average is $176.72. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In related news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. Corporate 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.