Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 6,538 Shares of Qualcomm Incorporated $QCOM

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 16.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,942 shares of the wireless technology company’s stock after selling 6,538 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Qualcomm were worth $4,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Bryn Mawr Trust Advisors LLC increased its position in Qualcomm by 10.7% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 5,486 shares of the wireless technology company’s stock valued at $707,000 after purchasing an additional 530 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Qualcomm by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,318,730 shares of the wireless technology company’s stock valued at $169,826,000 after purchasing an additional 13,008 shares in the last quarter. Citizens National Bank Trust Department lifted its position in shares of Qualcomm by 7.1% in the 1st quarter. Citizens National Bank Trust Department now owns 18,015 shares of the wireless technology company’s stock worth $2,320,000 after purchasing an additional 1,200 shares during the period. Gratus Wealth Advisors LLC lifted its position in shares of Qualcomm by 6.8% in the 1st quarter. Gratus Wealth Advisors LLC now owns 3,801 shares of the wireless technology company’s stock worth $489,000 after purchasing an additional 243 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC lifted its position in shares of Qualcomm by 53.0% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 30,110 shares of the wireless technology company’s stock worth $3,878,000 after purchasing an additional 10,427 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the sale, the executive vice president owned 39,735 shares of the company’s stock, valued at approximately $7,065,677.70. The trade was a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. 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 90 days, insiders have sold 21,721 shares of company stock worth $4,044,465. Insiders own 0.05% of the company’s stock.

Qualcomm Trading Down 3.2%

Shares of Qualcomm stock opened at $178.10 on Wednesday. The firm’s 50 day simple moving average is $209.51 and its two-hundred day simple moving average is $168.41. The firm has a market capitalization of $187.72 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 5.47 and a beta of 1.63. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Analysts predict that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Oppenheimer lowered shares of Qualcomm from a “market perform” rating to a “market perform” rating in a report on Friday, May 8th. Mizuho upped their target price on Qualcomm from $170.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. Citigroup upped their target price on Qualcomm from $160.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Guggenheim set a $200.00 price target on Qualcomm in a report on Monday, June 22nd. Finally, Robert W. Baird set a $300.00 price target on Qualcomm in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Qualcomm presently has an average rating of “Hold” and an average price target of $221.31.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi?Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.