Axiom Advisory LLC Has $78.67 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Axiom Advisory LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 103.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 445,536 shares of the wireless technology company’s stock after purchasing an additional 226,996 shares during the period. QUALCOMM accounts for about 0.7% of Axiom Advisory LLC’s investment portfolio, making the stock its 19th biggest holding. Axiom Advisory LLC’s holdings in QUALCOMM were worth $78,668,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $37,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $211.67.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.2 %

Shares of QCOM opened at $166.94 on Tuesday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The business’s fifty day moving average is $168.00 and its 200-day moving average is $182.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $186.31 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.69 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS 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.