Axxcess Wealth Management LLC Purchases 6,286 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Axxcess Wealth Management LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,550 shares of the wireless technology company’s stock after purchasing an additional 6,286 shares during the quarter. Axxcess Wealth Management LLC’s holdings in QUALCOMM were worth $6,085,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in QCOM. City Holding Co. grew its holdings in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares in the last quarter. Bard Financial Services Inc. raised its position in QUALCOMM by 0.4% during the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after purchasing an additional 125 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of QUALCOMM by 173.3% during the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after buying an additional 534,176 shares in the last quarter. BNP Paribas bought a new stake in QUALCOMM in the 1st quarter worth approximately $3,104,000. Finally, SWP Financial LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $593,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $166.61 on Tuesday. The company has a market cap of $185.94 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.81 and a beta of 1.28. The business’s fifty day simple moving average is $175.29 and its two-hundred day simple moving average is $182.11. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. Research analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. KeyCorp boosted their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Susquehanna raised their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Barclays boosted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

About QUALCOMM

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.