2,994 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Axis Wealth Partners LLC

Axis Wealth Partners LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,994 shares of the wireless technology company's stock, valued at approximately $460,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at about $2,058,000. Burney Co. lifted its holdings in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM in the 4th quarter valued at approximately $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. StockNews.com upgraded QUALCOMM from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $5.18 during trading on Friday, reaching $161.22. 8,725,530 shares of the company traded hands, compared to its average volume of 8,297,443. The company's 50 day moving average is $164.76 and its two-hundred day moving average is $165.03. The firm has a market capitalization of $178.31 billion, a PE ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM's payout ratio is 36.32%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by company insiders.

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.