Commonwealth Equity Services LLC Sells 3,102 Shares of Qualcomm Incorporated $QCOM

Commonwealth Equity Services LLC trimmed its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 415,885 shares of the wireless technology company’s stock after selling 3,102 shares during the period. 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 also recently bought and sold shares of the business. TFB Advisors LLC grew its holdings in shares of Qualcomm by 10.0% during the third quarter. TFB Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $400,000 after purchasing an additional 198 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Qualcomm by 1.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 18,274 shares of the wireless technology company’s stock worth $3,363,000 after purchasing an additional 223 shares during the period. Cowa LLC grew its stake in shares of Qualcomm by 12.6% during the 3rd quarter. Cowa LLC now owns 1,650 shares of the wireless technology company’s stock worth $304,000 after purchasing an additional 185 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of Qualcomm by 17.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 17,526 shares of the wireless technology company’s stock valued at $3,083,000 after acquiring an additional 2,543 shares during the period. Finally, Optimist Retirement Group LLC boosted its position in Qualcomm by 1.1% during the third 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 in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm Trading Up 5.5%

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

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

Qualcomm Announces Dividend

The company also recently declared 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 payout ratio is 28.98%.

Qualcomm News Roundup

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

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Oppenheimer set a $200.00 price objective on Qualcomm in a research report on Monday, July 27th. Rosenblatt Securities lowered their target price on Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald dropped their price target on Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Wells Fargo & Company cut their price target on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Finally, Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $197.55.

Insider Activity

In related news, CAO Patricia Y. Grech sold 625 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The transaction 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, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at $35,513,600. This represents 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. Over the last 90 days, insiders have sold 31,820 shares of company stock worth $5,980,217. 0.05% of the stock is owned by corporate insiders.

Qualcomm Company 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.