QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,096 shares of the wireless technology company's stock after selling 4,620 shares during the period. Axxcess Wealth Management LLC's holdings in QUALCOMM were worth $4,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter worth about $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $186.39.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were 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. In the last quarter, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 0.2%

Shares of QCOM stock traded down $0.26 during mid-day trading on Thursday, hitting $159.09. The stock had a trading volume of 5,671,246 shares, compared to its average volume of 8,539,163. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The firm has a market capitalization of $174.68 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The firm's 50-day moving average is $152.00 and its two-hundred day moving average is $155.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. On average, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Company 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.