Empowered Funds LLC Cuts Holdings in Qualcomm Incorporated $QCOM

Empowered Funds LLC decreased its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 29.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 290,133 shares of the wireless technology company’s stock after selling 122,018 shares during the quarter. Empowered Funds LLC’s holdings in Qualcomm were worth $53,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Baxter Bros Inc. acquired a new position in Qualcomm during the second quarter worth $17,844,000. MUFG Securities EMEA plc grew its position in shares of Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company’s stock valued at $7,524,000 after purchasing an additional 23,262 shares during the period. Swedbank AB increased its stake in shares of Qualcomm by 1.5% during the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company’s stock worth $262,291,000 after purchasing an additional 23,110 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Qualcomm by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company’s stock worth $24,578,000 after purchasing an additional 7,804 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its position in shares of Qualcomm by 6.1% during the 4th quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company’s stock worth $6,844,000 after purchasing an additional 2,288 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James Financial began coverage on Qualcomm in a report on Thursday, June 25th. They issued a “strong-buy” rating on the stock. Evercore set a $159.00 price target on Qualcomm in a research note on Thursday, July 30th. Sanford C. Bernstein set a $165.00 price objective on Qualcomm in a research note on Thursday, July 30th. Citigroup decreased their price objective on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald lowered their target price on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $203.76.

Qualcomm Stock Up 0.6%

Shares of QCOM opened at $164.78 on Friday. The company’s 50-day moving average price is $173.73 and its 200 day moving average price is $168.67. The firm has a market cap of $173.06 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 15.11 and a beta of 1.65. 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 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.69 billion. During the same period in the previous year, the business posted $2.77 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. Qualcomm’s payout ratio is presently 42.59%.

Insider Activity at Qualcomm

In other news, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the sale, the chief accounting officer owned 208 shares of the company’s stock, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the transaction, the executive vice president directly owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their position. 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. In the last 90 days, insiders have sold 11,325 shares of company stock worth $1,925,859. 0.05% of the stock is currently owned by company insiders.

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.