Burney Co. Reduces Stock Position in Qualcomm Incorporated $QCOM

Burney Co. lessened its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 27.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,560 shares of the wireless technology company's stock after selling 13,154 shares during the quarter. Burney Co.'s holdings in Qualcomm were worth $6,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Your Advocates Ltd. LLP purchased a new stake in shares of Qualcomm during the first quarter valued at $26,000. Torren Management LLC purchased a new position in Qualcomm in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its stake in Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after buying an additional 170 shares during the period. Birchwood Financial Partners Inc. bought a new stake in Qualcomm during the 4th quarter valued at about $31,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in Qualcomm in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Price Performance

Shares of QCOM opened at $165.79 on Friday. The company's fifty day moving average price is $182.72 and its 200-day moving average price is $167.72. 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 firm has a market capitalization of $174.12 billion, a PE ratio of 19.19, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities research analysts predict that Qualcomm Incorporated will post 7.76 EPS for the current year.

Qualcomm Dividend Announcement

The firm also recently declared 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. This represents a $3.68 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's dividend payout ratio is presently 42.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QCOM shares. Oppenheimer set a $200.00 target price on shares of Qualcomm in a research report on Monday, July 27th. Wells Fargo & Company lowered their price target on Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. HSBC reissued a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Susquehanna decreased their price objective on Qualcomm from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Finally, Lake Street Capital downgraded shares of Qualcomm to a "hold" rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average 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 dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing 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, CAO Patricia Y. Grech sold 829 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,529 shares of company stock valued at $1,991,345. Company insiders own 0.05% of the company's stock.

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.

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