2,925 Qualcomm Incorporated $QCOM Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in Qualcomm Incorporated (NASDAQ:QCOM) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 135,594 shares of the wireless technology company’s stock after selling 2,925 shares during the quarter. Welch & Forbes LLC’s holdings in Qualcomm were worth $24,955,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of QCOM. ABS Investment Management LLC purchased a new position in shares of Qualcomm in the second quarter valued at about $34,000. ABS Direct Equity Fund LLC bought a new position in shares of Qualcomm in the second quarter worth about $34,000. Mizuho Securities Co. Ltd. bought a new position in shares of Qualcomm in the third quarter worth about $35,000. Team Financial Group LLC purchased a new stake in shares of Qualcomm during the third quarter worth about $38,000. Finally, Burk Holdings LLC grew its position in shares of Qualcomm by 191.7% during the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HSBC reissued a “hold” rating on shares of Qualcomm in a research note on Wednesday, July 15th. Barclays dropped their price target on Qualcomm from $180.00 to $150.00 and set an “underweight” rating for the company in a research note on Thursday. Benchmark cut their price objective on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a report on Monday, July 27th. Freedom Broker lowered shares of Qualcomm from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $185.00 in a report on Monday. Finally, Cantor Fitzgerald reduced their price objective on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Qualcomm has a consensus rating of “Hold” and a consensus price target of $197.13.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue grew 89% to a record $1.99 billion. Qualcomm also expects non-handset revenue to grow by more than 60% in fiscal 2027, supporting hopes that newer businesses can offset smartphone-market weakness. Article
• Positive Sentiment: ETFs made a net $28.3 million purchase of QCOM shares on Nov. 5, with more funds adding shares than reducing their holdings. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan, retaining 39,379 shares. The planned nature of the sale makes it a less clear signal about the company’s outlook. SEC filing
• Negative Sentiment: Handset revenue fell 26%, and earnings guidance came in below expectations, renewing concerns about pressure in Qualcomm’s core smartphone business. Article
• Negative Sentiment: Freedom Broker cut its rating from “buy” to “hold” and reduced its price target from $200 to $185, signaling less near-term upside in its view. Rating information

Insiders Place Their Bets

In other news, CAO Patricia Grech sold 208 shares of Qualcomm 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,501 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $161.54, for a total transaction of $242,471.54. Following the sale, the executive vice president directly owned 27,271 shares of the company’s stock, valued at $4,405,357.34. This represents a 5.22% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 35,020 shares of company stock valued at $6,509,561. Insiders own 0.05% of the company’s stock.

Qualcomm Stock Up 3.7%

NASDAQ QCOM opened at $171.47 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $178.25 and a two-hundred day moving average of $169.60. The firm has a market capitalization of $183.10 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.90 and a beta of 1.70. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 31.91%. The business had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same quarter in the previous year, the business posted $3.00 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Qualcomm Incorporated will post 7.16 earnings per share for the current year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. Qualcomm’s dividend payout ratio (DPR) is presently 28.98%.

Qualcomm Profile

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.