Cary Street Partners Financial LLC Raises Stock Position in Qualcomm Incorporated $QCOM

Cary Street Partners Financial LLC increased its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,015 shares of the wireless technology company’s stock after purchasing an additional 7,893 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Qualcomm were worth $17,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB raised its position in Qualcomm by 1.5% in the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company’s stock worth $262,291,000 after acquiring an additional 23,110 shares during the period. NBC Securities Inc. raised its position in Qualcomm by 47.5% in the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company’s stock worth $3,197,000 after acquiring an additional 6,018 shares during the period. Sequoia Financial Advisors LLC raised its position in Qualcomm by 5.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company’s stock worth $24,578,000 after acquiring an additional 7,804 shares during the period. Valley Wealth Managers Inc. raised its position in Qualcomm by 6.1% in the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company’s stock worth $6,844,000 after acquiring an additional 2,288 shares during the period. Finally, Western Wealth Management LLC raised its position in Qualcomm by 16.9% in the fourth quarter. Western Wealth Management LLC now owns 20,682 shares of the wireless technology company’s stock worth $3,538,000 after acquiring an additional 2,990 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of Qualcomm stock in a transaction on Monday, May 4th. The stock was sold at an average price of $180.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 197,568 shares of the company’s stock, valued at $35,562,240. The trade was a 4.82% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 19,306 shares of company stock valued at $3,435,583. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Loop Capital upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Tuesday, February 24th. Cantor Fitzgerald raised their price objective on shares of Qualcomm from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company cut shares of Qualcomm from a “positive” rating to an “underweight” rating in a research note on Friday, May 8th. Susquehanna lifted their target price on shares of Qualcomm from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Qualcomm from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Fourteen research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Qualcomm presently has an average rating of “Hold” and an average price target of $181.79.

Qualcomm Stock Performance

Shares of NASDAQ QCOM opened at $238.16 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The company has a market cap of $251.02 billion, a P/E ratio of 25.89, a P/E/G ratio of 29.50 and a beta of 1.49. The firm’s fifty day moving average is $156.96 and its two-hundred day moving average is $159.19. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $247.90.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.09. The company had revenue of $10.60 billion for 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%. Qualcomm’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 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, analysts anticipate that Qualcomm Incorporated will post 7.99 EPS for the current fiscal year.

Qualcomm declared that its Board of Directors has approved a share repurchase program on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Qualcomm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, June 4th. This is an increase from Qualcomm’s previous quarterly dividend of $0.89. Qualcomm’s dividend payout ratio is 38.70%.

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.