Kestra Investment Management LLC decreased its position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 44.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,955 shares of the wireless technology company’s stock after selling 13,647 shares during the period. Kestra Investment Management LLC’s holdings in Qualcomm were worth $3,120,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Baxter Bros Inc. acquired a new stake in Qualcomm in the 2nd quarter worth about $17,844,000. Y Intercept Hong Kong Ltd purchased a new stake in Qualcomm in the 2nd quarter valued at about $28,068,000. Tensor Edge Capital LLC purchased a new stake in Qualcomm in the 2nd quarter valued at about $147,315,000. Sawyer & Company Inc purchased a new stake in Qualcomm in the 3rd quarter valued at about $2,403,000. Finally, Robinson Value Management Ltd. increased its stake in shares of Qualcomm by 40.5% during the 3rd quarter. Robinson Value Management Ltd. now owns 34,184 shares of the wireless technology company’s stock valued at $6,291,000 after acquiring an additional 9,858 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.
Insider Transactions at Qualcomm
In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction that occurred 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. The trade was a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at $35,513,600. The trade was a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,020 shares of company stock valued at $6,509,561 in the last three months. 0.05% of the stock is owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on QCOM. Morgan Stanley cut their price objective on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Citigroup lowered their target price on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of Qualcomm from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, November 5th. Barclays cut their price target on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, HSBC reiterated a “hold” rating on shares of Qualcomm in a report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Qualcomm currently has a consensus rating of “Hold” and an average target price of $197.13.
View Our Latest Report on Qualcomm
Qualcomm Stock Performance
Shares of NASDAQ:QCOM opened at $171.47 on Tuesday. The business has a 50-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 PE ratio of 13.50, a P/E/G ratio of 3.90 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 12 month low of $121.99 and a 12 month high of $259.92.
Qualcomm (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 31.91% and a net margin of 31.60%. The business had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same period in the previous year, the company posted $3.00 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, research analysts forecast that Qualcomm Incorporated will post 7.16 earnings per share for the current year.
Qualcomm Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.1%. Qualcomm’s dividend payout ratio (DPR) is presently 28.98%.
Qualcomm News Roundup
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
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.
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