Allstate Corp Has $6.26 Million Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Allstate Corp increased its holdings in QUALCOMM by 23.9% in Q1, owning 40,778 shares valued at approximately $6.26 million.
• QUALCOMM's recent earnings report showed $2.77 earnings per share, exceeding analysts' expectations, with a quarterly revenue of $10.37 billion.
• The company declared a quarterly dividend of $0.89, with an ex-dividend date of September 4th, representing a 2.3% dividend yield.

Allstate Corp increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,778 shares of the wireless technology company's stock after purchasing an additional 7,869 shares during the period. Allstate Corp's holdings in QUALCOMM were worth $6,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares during the period. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 0.8%

Shares of NASDAQ:QCOM opened at $154.13 on Friday. The stock has a market capitalization of $166.31 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The stock's 50-day moving average price is $155.57 and its 200-day moving average price is $153.30. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's dividend payout ratio is currently 34.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler reduced their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $181.10.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 791 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares of the company's stock, valued at approximately $171,230.92. The trade was a 41.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at approximately $6,398,956.70. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,390 shares of company stock worth $1,874,817 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Company Profile

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.

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