Access Financial Services Inc. Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Access Financial Services Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,680 shares of the wireless technology company's stock after purchasing an additional 2,794 shares during the period. Access Financial Services Inc.'s holdings in QUALCOMM were worth $1,641,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Teza Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $303,000. Amundi boosted its position in QUALCOMM by 36.6% during the fourth 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 last quarter. First Foundation Advisors boosted its position in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after acquiring an additional 45,769 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV boosted its position in QUALCOMM by 16.4% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 15,114 shares of the wireless technology company's stock worth $2,322,000 after acquiring an additional 2,128 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Citigroup decreased their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $189.88.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $154.72 on Monday. The company's fifty day simple moving average is $145.85 and its 200-day simple moving average is $155.14. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $169.88 billion, a PE ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm posted $2.44 EPS. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM's payout ratio is 36.25%.

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.

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