Qualcomm Incorporated $QCOM Stock: Commonwealth Equity Services LLC Decreases Holdings

Commonwealth Equity Services LLC reduced its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,885 shares of the wireless technology company’s stock after selling 3,102 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Qualcomm were worth $76,539,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. TFB Advisors LLC increased its holdings in Qualcomm by 10.0% in the 3rd quarter. TFB Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $400,000 after acquiring an additional 198 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Qualcomm by 1.2% in the third quarter. Pathway Financial Advisers LLC now owns 18,274 shares of the wireless technology company’s stock valued at $3,363,000 after purchasing an additional 223 shares during the period. Cowa LLC increased its stake in shares of Qualcomm by 12.6% during the third quarter. Cowa LLC now owns 1,650 shares of the wireless technology company’s stock worth $304,000 after purchasing an additional 185 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Qualcomm by 17.0% during the third quarter. Chicago Partners Investment Group LLC now owns 17,526 shares of the wireless technology company’s stock worth $3,083,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Optimist Retirement Group LLC raised its position in shares of Qualcomm by 1.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 16,226 shares of the wireless technology company’s stock worth $2,986,000 after purchasing an additional 178 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QCOM shares. Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Citigroup reduced their target price on Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. TD Cowen decreased their target price on Qualcomm from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer set a $200.00 price target on Qualcomm in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qualcomm in a research note on Monday, September 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Qualcomm has an average rating of “Hold” and an average target price of $197.55.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Ann Chaplin sold 1,827 shares of Qualcomm stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares of the company’s stock, valued at $4,503,307.50. The trade was a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano Amon sold 10,000 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the sale, the chief executive officer owned 177,568 shares in the company, valued at $35,513,600. This trade represents a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 31,820 shares of company stock valued at $5,980,217. Insiders own 0.05% of the company’s stock.

Qualcomm Trading Up 5.5%

Qualcomm stock traded up $8.66 during trading on Friday, reaching $165.41. 19,678,727 shares of the company were exchanged, compared to its average volume of 10,479,039. The stock’s 50 day simple moving average is $178.11 and its two-hundred day simple moving average is $169.52. The company has a market capitalization of $176.63 billion, a P/E ratio of 13.02, a PEG ratio of 3.65 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company earned $3.00 EPS. On average, equities research analysts expect that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm’s dividend payout ratio is presently 28.98%.

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.