Accent Capital Management LLC Acquires 3,891 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Accent Capital Management LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 86.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,378 shares of the wireless technology company’s stock after purchasing an additional 3,891 shares during the period. QUALCOMM accounts for 0.7% of Accent Capital Management LLC’s portfolio, making the stock its 26th largest position. Accent Capital Management LLC’s holdings in QUALCOMM were worth $1,287,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM in the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QCOM. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $152.72 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The firm has a fifty day moving average price of $164.16 and a 200 day moving average price of $163.82. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.