AMG National Trust Bank Invests $2.54 Million in Qualcomm Incorporated $QCOM

Key Points

• AMG National Trust Bank initiated a $2.54 million position in Qualcomm by purchasing 13,773 shares in the second quarter. Institutional investors collectively own 74.35% of QCOM’s outstanding stock.
• Analyst sentiment remains mixed: Qualcomm has a consensus rating of “Hold” and an average price target of $203.63, despite some recent upgrades and downgrades.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding expectations, but earnings per share slightly missed estimates and revenue declined 4% year over year. The company also declared a quarterly dividend of $0.92 per share, representing a 2.3% yield.

AMG National Trust Bank bought a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,773 shares of the wireless technology company's stock, valued at approximately $2,545,000.

A number of other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Qualcomm by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Qualcomm by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Qualcomm by 44.3% in the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock valued at $530,000 after acquiring an additional 1,020 shares during the period. Main Street Financial Solutions LLC boosted its position in Qualcomm by 6.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock worth $920,000 after purchasing an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Qualcomm by 9.7% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 603 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on QCOM. Summit Insights upgraded shares of Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Bank of America upped their price objective 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. Daiwa Securities Group raised shares of Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 target price on the stock in a research note on Friday, May 8th. Craig Hallum cut Qualcomm from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Finally, Rosenblatt Securities cut their price target on Qualcomm from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $203.63.

Insiders Place Their Bets

In other news, 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 owned 36,535 shares of the company's stock, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a 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, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the sale, the executive vice president owned 20,684 shares of the company's stock, valued at $3,376,869.84. This trade represents a 10.78% decrease in their ownership of the stock. 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 sold a total of 10,700 shares of company stock worth $1,824,078 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Qualcomm Stock Up 1.1%

QCOM stock opened at $161.91 on Thursday. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $180.12 and a 200-day simple moving average of $168.00. The stock has a market capitalization of $170.04 billion, a P/E ratio of 18.74, a P/E/G ratio of 14.79 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. During the same period in the prior year, the business posted $2.77 earnings per share. The company's quarterly revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's dividend payout ratio is currently 42.59%.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source