Access Financial Services Inc. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Access Financial Services Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 7,886 shares of the wireless technology company’s stock after buying an additional 167 shares during the period. Access Financial Services Inc.’s holdings in QUALCOMM were worth $1,211,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of QUALCOMM by 11.6% during the second quarter. Pacer Advisors Inc. now owns 177,040 shares of the wireless technology company’s stock valued at $35,263,000 after buying an additional 18,379 shares during the last quarter. Kowal Investment Group LLC boosted its position in shares of QUALCOMM by 31.4% during the second quarter. Kowal Investment Group LLC now owns 5,002 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 1,195 shares during the last quarter. Profund Advisors LLC boosted its position in shares of QUALCOMM by 6.3% during the second quarter. Profund Advisors LLC now owns 182,012 shares of the wireless technology company’s stock valued at $36,253,000 after buying an additional 10,807 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of QUALCOMM by 86.7% during the second quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock valued at $545,575,000 after buying an additional 1,272,191 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in shares of QUALCOMM by 4,438.9% during the second quarter. Frank Rimerman Advisors LLC now owns 21,923 shares of the wireless technology company’s stock valued at $4,367,000 after buying an additional 21,440 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $164.56 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The stock has a 50-day moving average price of $158.85 and a 200 day moving average price of $168.82. The stock has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last quarter. 0.08% of the stock is owned by corporate 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.