Axis Wealth Partners LLC Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Axis Wealth Partners LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,994 shares of the wireless technology company’s stock, valued at approximately $460,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Amundi lifted its stake in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in QUALCOMM during the 4th quarter valued at $527,053,000. Pacer Advisors Inc. increased its position in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the period. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $161.22 on Friday. The stock’s 50-day moving average is $164.76 and its two-hundred day moving average is $165.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The firm has a market cap of $178.31 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently 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.