Carnegie Investment Counsel Lowers Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Carnegie Investment Counsel reduced its stake in QUALCOMM by 0.8%, bringing its total holdings to 337,361 shares valued at approximately $53.7 million.
• Other major institutional investors increased their positions in QUALCOMM, with Kingstone Capital Partners boosting its stake by 656,661% during the second quarter.
• QUALCOMM recently declared a quarterly dividend of $0.89 per share, with a scheduled payment date of December 18th, reflecting an annual yield of 2.1%.

Carnegie Investment Counsel trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,361 shares of the wireless technology company's stock after selling 2,814 shares during the quarter. QUALCOMM makes up approximately 1.1% of Carnegie Investment Counsel's portfolio, making the stock its 17th biggest holding. Carnegie Investment Counsel's holdings in QUALCOMM were worth $53,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Kingstone Capital Partners Texas LLC raised its stake in QUALCOMM by 656,661.0% in the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares in the last quarter. Nuveen LLC bought a new position in shares of QUALCOMM in the first quarter worth approximately $529,713,000. Goldman Sachs Group Inc. grew its holdings in shares of QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock worth $1,114,403,000 after purchasing an additional 1,407,797 shares during the last quarter. Deutsche Bank AG lifted its stake in QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after acquiring an additional 875,412 shares during the period. Finally, AQR Capital Management LLC lifted its stake in QUALCOMM by 84.6% in the first quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company's stock worth $230,444,000 after acquiring an additional 707,615 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 791 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the sale, the chief accounting officer directly owned 1,106 shares in the company, valued at $171,230.92. This trade represents a 41.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,102 shares of company stock worth $27,706,855. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of QUALCOMM in a research note on Wednesday, October 8th. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the stock an "outperform" rating in a research report on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Finally, UBS Group lifted their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.27.

QUALCOMM Trading Up 0.4%

Shares of NASDAQ:QCOM opened at $170.03 on Friday. The stock has a 50 day moving average of $163.18 and a 200 day moving average of $154.60. The company has a market cap of $183.46 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the firm earned $2.33 EPS. The firm's revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.1%. QUALCOMM's payout ratio is currently 34.33%.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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