Grove Bank & Trust Sells 73 Shares of QUALCOMM Incorporated $QCOM

Grove Bank & Trust lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the second quarter, HoldingsChannel.com reports. The firm owned 4,179 shares of the wireless technology company’s stock after selling 73 shares during the quarter. Grove Bank & Trust’s holdings in QUALCOMM were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nuveen LLC acquired a new position in QUALCOMM in the 1st quarter valued at $529,713,000. GAMMA Investing LLC grew its holdings in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock worth $1,114,403,000 after purchasing an additional 1,407,797 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in QUALCOMM in the fourth quarter valued at about $204,085,000. Finally, Assenagon Asset Management S.A. raised its stake in QUALCOMM by 222.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,385,326 shares of the wireless technology company’s stock valued at $212,800,000 after purchasing an additional 956,311 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. UBS Group increased their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Citigroup reissued a “hold” rating on shares of QUALCOMM in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Arete upgraded QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $182.82.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the transaction, the chief financial officer owned 39,874 shares in the company, valued at $6,254,635.64. This trade represents a 7.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,899 shares of company stock valued at $1,992,121 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $168.13 on Friday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a market cap of $181.41 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.40 and a beta of 1.21. The firm has a 50 day simple moving average of $156.85 and a 200 day simple moving average of $152.32.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the business earned $2.33 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.1%. QUALCOMM’s dividend payout ratio (DPR) is currently 34.33%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.