Qualcomm Incorporated $QCOM Shares Sold by Novem Group

Novem Group reduced its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 11.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,848 shares of the wireless technology company’s stock after selling 2,972 shares during the quarter. Novem Group’s holdings in Qualcomm were worth $4,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Qualcomm in the 2nd quarter valued at approximately $17,583,115,000. Bank of New York Mellon Corp acquired a new stake in Qualcomm during the 2nd quarter worth approximately $1,523,930,000. Deutsche Bank AG bought a new stake in Qualcomm during the 2nd quarter worth approximately $1,178,349,000. Amundi grew its holdings in Qualcomm by 94.1% during the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after acquiring an additional 4,942,908 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Qualcomm by 22.7% in the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after acquiring an additional 3,179,720 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Akash Palkhiwala sold 2,500 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $182.85, for a total transaction of $457,125.00. Following the completion of the sale, the executive vice president directly owned 18,184 shares in the company, valued at $3,324,944.40. This represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 208 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $170.00, for a total transaction of $35,360.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 30,958 shares of company stock worth $5,760,494. Corporate insiders own 0.05% of the company’s stock.

Qualcomm Trading Up 0.8%

QCOM stock traded up $1.42 during trading on Monday, hitting $173.53. The company had a trading volume of 10,550,206 shares, compared to its average volume of 15,246,486. The business has a 50-day moving average of $175.25 and a 200-day moving average of $180.01. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The stock has a market cap of $185.30 billion, a PE ratio of 20.08, a PEG ratio of 3.88 and a beta of 1.65. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the previous year, the business posted $2.77 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Research analysts predict that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price target on shares of Qualcomm in a research note on Wednesday, September 9th. Benchmark cut their price target on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Sanford C. Bernstein reissued a “market perform” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Craig Hallum downgraded Qualcomm from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Raymond James Financial started coverage on Qualcomm in a research report on Thursday, June 25th. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.10.

About Qualcomm

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.