QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Increased by Accent Capital Management LLC

Key Points

• Accent Capital Management LLC increased its stake in Qualcomm by 100.7%, now holding 16,811 shares worth approximately $2.58 million, making it the 14th largest position in their portfolio.
• Multiple institutional investors have also raised their positions in Qualcomm, with over 74.35% of the stock currently owned by institutional investors.
• Qualcomm declared a quarterly dividend of $0.89 per share, with an annualized yield of 2.4%, payable on September 25th to investors of record on September 4th.

Accent Capital Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 100.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,811 shares of the wireless technology company's stock after buying an additional 8,433 shares during the quarter. QUALCOMM comprises 1.5% of Accent Capital Management LLC's holdings, making the stock its 14th biggest position. Accent Capital Management LLC's holdings in QUALCOMM were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of QUALCOMM by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock worth $692,747,000 after acquiring an additional 138,257 shares in the last quarter. First Trust Advisors LP increased its position in shares of QUALCOMM by 2.5% in the fourth quarter. First Trust Advisors LP now owns 4,010,518 shares of the wireless technology company's stock worth $616,096,000 after acquiring an additional 97,343 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of QUALCOMM by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,541,661 shares of the wireless technology company's stock worth $544,035,000 after acquiring an additional 30,369 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Mizuho dropped their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday. Citigroup reissued a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $181.10.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $148.19 on Monday. The firm has a fifty day simple moving average of $155.11 and a 200-day simple moving average of $154.81. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The stock has a market capitalization of $159.90 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.18 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 EPS. On average, sell-side analysts expect 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, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 420,766 shares of company stock worth $7,858,738 in the last ninety days. 0.08% of the stock is currently owned by 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.

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