Qualcomm Incorporated $QCOM Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 31.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 33,661 shares of the wireless technology company’s stock after selling 15,425 shares during the period. Westpac Banking Corp’s holdings in Qualcomm were worth $6,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. JFS Wealth Advisors LLC increased its holdings in Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock valued at $295,000 after purchasing an additional 53 shares in the last quarter. Wall Street Financial Group Inc. lifted its stake in shares of Qualcomm by 1.9% during the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock worth $564,000 after purchasing an additional 57 shares in the last quarter. Sunbeam Capital Management LLC lifted its stake in shares of Qualcomm by 3.7% during the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock worth $303,000 after purchasing an additional 58 shares in the last quarter. Basepoint Wealth LLC boosted its position in shares of Qualcomm by 1.8% in the first quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company’s stock worth $429,000 after buying an additional 59 shares during the period. Finally, Five Oceans Advisors boosted its position in shares of Qualcomm by 3.3% in the second quarter. Five Oceans Advisors now owns 1,827 shares of the wireless technology company’s stock worth $338,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Qualcomm Stock Performance

Shares of QCOM opened at $160.75 on Monday. The company has a market capitalization of $168.82 billion, a P/E ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The stock has a 50-day moving average price of $178.26 and a 200 day moving average price of $168.12.

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

Qualcomm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. 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 2.3%. Qualcomm’s dividend payout ratio (DPR) is presently 42.59%.

Insider Buying and Selling

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the sale, the executive vice president owned 20,684 shares in the company, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,325 shares of company stock worth $1,925,859. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Susquehanna dropped their target price on Qualcomm from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Monness Crespi & Hardt upgraded Qualcomm to a “buy” rating in a report on Thursday, June 25th. DZ Bank raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research report on Friday, June 26th. Benchmark dropped their price objective on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Finally, Bank of America boosted their target price on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $203.63.

About Qualcomm

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.