Burney Co. Sells 41,067 Shares of Qualcomm Incorporated $QCOM

Key Points

• Burney Co. reduced its Qualcomm stake by 45.7% in the first quarter, selling 41,067 shares and leaving it with 48,714 shares valued at about $6.27 million.
• Qualcomm reported better-than-expected quarterly earnings, posting $2.65 EPS versus the $2.56 consensus and revenue of $10.60 billion, while also announcing Q3 2026 EPS guidance of $2.10 to $2.30.
• The company authorized a $20 billion share repurchase program, and analysts currently have a mixed but generally neutral view with a consensus rating of “Hold” and an average target price of $220.45.

Burney Co. cut its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,714 shares of the wireless technology company's stock after selling 41,067 shares during the period. Burney Co.'s holdings in Qualcomm were worth $6,273,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Richardson Financial Services Inc. increased its position in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC acquired a new position in Qualcomm in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its position in Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 170 shares during the period. Birchwood Financial Partners Inc. bought a new stake in Qualcomm during the fourth quarter worth about $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in Qualcomm during the fourth quarter worth about $32,000. 74.35% of the stock is currently owned by institutional investors.

Qualcomm Stock Up 5.8%

Shares of NASDAQ QCOM opened at $186.48 on Tuesday. The company has a market cap of $196.55 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 5.24 and a beta of 1.63. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The stock has a 50-day moving average price of $205.65 and a two-hundred day moving average price of $167.87.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, analysts forecast that Qualcomm Incorporated will post 7.96 earnings per share for the current fiscal year.

Qualcomm declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Qualcomm from $140.00 to $235.00 and gave the company a "market perform" rating in a report on Thursday, June 25th. Bank of America upped their price target on shares of Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Craig Hallum cut shares of Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Qualcomm from $230.00 to $265.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $220.45.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $177.82, for a total value of $569,024.00. Following the sale, the executive vice president owned 39,735 shares in the company, valued at $7,065,677.70. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares in the company, valued at approximately $3,999,352.56. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,721 shares of company stock worth $3,918,290 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

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.

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