Canandaigua National Bank & Trust Co. Invests $1.62 Million in Qualcomm Incorporated $QCOM

Key Points

• Canandaigua National Bank & Trust bought 8,744 Qualcomm shares worth approximately $1.62 million in the second quarter. Institutional investors collectively own 74.35% of Qualcomm.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding estimates, but adjusted earnings per share of $2.21 slightly missed expectations and revenue declined 4% year over year.
• The company declared a quarterly dividend of $0.92 per share, or $3.68 annualized, representing a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $203.63.

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,744 shares of the wireless technology company's stock, valued at approximately $1,616,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. World Investment Advisors boosted its holdings in shares of Qualcomm by 14.3% during the fourth quarter. World Investment Advisors now owns 64,911 shares of the wireless technology company's stock worth $11,103,000 after purchasing an additional 8,130 shares during the period. MUFG Securities EMEA plc increased its holdings in Qualcomm by 112.2% during the 4th quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock valued at $7,524,000 after purchasing an additional 23,262 shares during the period. Swedbank AB raised its position in Qualcomm by 1.5% during the 4th quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock valued at $262,291,000 after purchasing an additional 23,110 shares during the last quarter. NBC Securities Inc. boosted its holdings in Qualcomm by 47.5% in the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock valued at $3,197,000 after acquiring an additional 6,018 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Qualcomm by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock valued at $24,578,000 after buying an additional 7,804 shares during the period. Institutional investors own 74.35% of the company's stock.

Qualcomm Stock Performance

QCOM stock opened at $157.53 on Thursday. The company has a market cap of $165.44 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 14.93 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The stock's fifty day moving average price is $193.24 and its 200-day moving average price is $167.47.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its 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). The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities analysts forecast that Qualcomm Incorporated will post 7.78 earnings per share for the current year.

Qualcomm Announces Dividend

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 paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio is presently 42.59%.

Insider Buying and Selling at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total value of $452,025.00. Following the transaction, the executive vice president directly owned 23,184 shares in the company, valued at $4,191,899.04. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. 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 have sold a total of 11,529 shares of company stock valued at $2,112,945 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Qualcomm in a report on Wednesday, June 24th. Rosenblatt Securities lowered their price objective on Qualcomm from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Susquehanna reduced their target price on Qualcomm from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Mizuho boosted their price target on Qualcomm from $170.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their price objective on Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty-one have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Qualcomm presently has a consensus rating of "Hold" and an average target price of $203.63.

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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