Benjamin Edwards Inc. Decreases Stock Holdings in Qualcomm Incorporated $QCOM

Benjamin Edwards Inc. trimmed its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,215 shares of the wireless technology company's stock after selling 47,525 shares during the period. Benjamin Edwards Inc.'s holdings in Qualcomm were worth $51,977,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QCOM. BlackRock Inc. purchased a new position in Qualcomm during the 2nd quarter valued at about $17,583,115,000. Norges Bank purchased a new stake in Qualcomm in the 4th quarter worth approximately $2,591,056,000. Bank of New York Mellon Corp bought a new stake in shares of Qualcomm in the 2nd quarter worth approximately $1,523,930,000. Deutsche Bank AG bought a new stake in shares of Qualcomm in the 2nd quarter worth approximately $1,178,349,000. Finally, Wellington Management Group LLP increased its stake in shares of Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock valued at $2,861,301,000 after buying an additional 4,290,622 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on QCOM shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Qualcomm in a research note on Wednesday, June 24th. Wells Fargo & Company cut their target price on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Tigress Financial boosted their price target on shares of Qualcomm from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Oppenheimer set a $200.00 price objective on shares of Qualcomm in a report on Monday, July 27th. Finally, Benchmark cut their price objective on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $203.76.

Insiders Place Their Bets

In other news, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction on Monday, August 3rd. The stock was 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 owned 36,535 shares in the company, valued at $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the company's stock in a transaction 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 transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. The trade was a 75.03% 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 quarter, insiders sold 11,325 shares of company stock valued at $1,925,859. Corporate insiders own 0.05% of the company's stock.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $164.19 on Friday. The business has a fifty day moving average price of $172.49 and a 200-day moving average price of $168.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The company has a market capitalization of $172.44 billion, a PE ratio of 19.00, a PEG ratio of 15.16 and a beta of 1.65. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, equities analysts expect that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued 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 dividend yield of 2.2%. Qualcomm's dividend payout ratio (DPR) is presently 42.59%.

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.

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