NewEdge Advisors LLC Trims Stock Holdings in Qualcomm Incorporated $QCOM

NewEdge Advisors LLC lowered its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 60.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 158,124 shares of the wireless technology company’s stock after selling 244,788 shares during the quarter. NewEdge Advisors LLC’s holdings in Qualcomm were worth $20,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in QCOM. Your Advocates Ltd. LLP bought a new stake in Qualcomm during the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its position in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC bought a new position in shares of Qualcomm in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 170 shares in the last quarter. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of Qualcomm during the 4th quarter valued at $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm Stock Up 4.7%

Shares of QCOM stock opened at $167.86 on Friday. The company’s fifty day simple moving average is $189.92 and its two-hundred day simple moving average is $167.48. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The stock has a market cap of $176.29 billion, a P/E ratio of 19.43, a PEG ratio of 14.72 and a beta of 1.65. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46.

Qualcomm (NASDAQ:QCOM) last issued 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 net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter in the previous year, the business earned $2.77 EPS. The company’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. Analysts predict that Qualcomm Incorporated will post 7.78 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 yield of 2.2%. Qualcomm’s payout ratio is presently 42.59%.

Analyst Ratings Changes

A number of research analysts recently weighed in on QCOM shares. Monness Crespi & Hardt upgraded shares of Qualcomm to a “buy” rating in a research note on Thursday, June 25th. Morgan Stanley cut their price target on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on Qualcomm from $160.00 to $265.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Evercore set a $159.00 target price on Qualcomm in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $160.00 target price on Qualcomm in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty-one have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $203.63.

Insiders Place Their Bets

In related news, EVP Heather S. Ace sold 3,200 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares in the company, valued at $4,191,899.04. This represents a 9.73% 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. Insiders have sold a total of 11,529 shares of company stock valued at $2,112,945 in the last quarter. 0.05% of the stock is currently owned by 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.