21,328 Qualcomm Incorporated $QCOM Shares Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Qualcomm stake by 11.4% in the third quarter, buying 21,328 shares and ending the period with 207,686 shares valued at about $38.2 million. Institutional investors and hedge funds own 74.35% of the stock.
• Qualcomm reported quarterly earnings of $2.17 per share and revenue of $10.44 billion, slightly beating analyst estimates. Revenue fell 8.4% year over year, and the stock has a consensus analyst rating of “Hold.”
• Company insiders sold 31,820 shares worth about $6.0 million over the past three months; several reported sales were made under pre-arranged trading plans. Qualcomm also announced a quarterly dividend of $0.92 per share, equivalent to a 2.2% yield.

Kestra Advisory Services LLC lifted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 11.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,686 shares of the wireless technology company's stock after buying an additional 21,328 shares during the period. Kestra Advisory Services LLC's holdings in Qualcomm were worth $38,223,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. ABS Investment Management LLC acquired a new stake in Qualcomm in the second quarter valued at $34,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Qualcomm during the 2nd quarter worth $34,000. Team Financial Group LLC purchased a new stake in shares of Qualcomm during the 3rd quarter worth $38,000. Burk Holdings LLC grew its stake in shares of Qualcomm by 191.7% during the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company's stock worth $39,000 after purchasing an additional 138 shares during the period. Finally, Harborfront Financial Group LLC acquired a new position in shares of Qualcomm during the 2nd quarter worth $41,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qualcomm

In other news, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at $33,872.80. This represents a 75.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the transaction, the executive vice president directly owned 18,184 shares of the company's stock, valued at approximately $3,324,944.40. This trade represents a 12.09% 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. In the last three months, insiders have sold 31,820 shares of company stock worth $5,980,217. 0.05% of the stock is currently owned by insiders.

Qualcomm Price Performance

Qualcomm stock traded up $8.66 during trading hours on Friday, hitting $165.41. The stock had a trading volume of 19,678,727 shares, compared to its average volume of 10,479,039. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The stock has a market capitalization of $176.63 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 3.65 and a beta of 1.70. The stock's fifty day moving average is $178.11 and its two-hundred day moving average is $169.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the previous year, the company posted $3.00 EPS. The business's revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm's dividend payout ratio (DPR) is 28.98%.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Weiss Ratings reiterated a "hold (c)" rating on shares of Qualcomm in a research note on Monday, September 21st. Arete Research raised shares of Qualcomm to a "strong-buy" rating in a report on Friday, October 16th. Morgan Stanley lowered their target price on shares of Qualcomm from $231.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Qualcomm in a report on Thursday. Finally, TD Cowen reduced their price target on shares of Qualcomm from $200.00 to $185.00 and set a "buy" rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $197.55.

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.

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