CENTRAL TRUST Co Sells 4,127 Shares of Qualcomm Incorporated $QCOM

Key Points

• CENTRAL TRUST Co cut its Qualcomm stake by 11.9% in the first quarter, selling 4,127 shares and leaving it with 30,632 shares valued at about $3.95 million.
• Qualcomm is drawing attention for a major AI and data-center expansion, including a raised fiscal 2029 non-handset revenue target of $40 billion and a goal of more than $15 billion in data-center revenue by then.
• The company also reported solid quarterly results, beating EPS estimates, and boosted its dividend to $0.92 per share while authorizing a $20 billion share buyback program.

CENTRAL TRUST Co decreased its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 30,632 shares of the wireless technology company's stock after selling 4,127 shares during the period. CENTRAL TRUST Co's holdings in Qualcomm were worth $3,945,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Qualcomm during the fourth quarter worth approximately $2,591,056,000. Wellington Management Group LLP lifted its holdings in Qualcomm by 141.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after purchasing an additional 7,292,783 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after purchasing an additional 3,221,924 shares during the last quarter. Invesco Ltd. boosted its stake in Qualcomm by 28.1% in the 4th quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company's stock valued at $2,163,030,000 after purchasing an additional 2,771,490 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Qualcomm by 36.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company's stock valued at $1,090,025,000 after purchasing an additional 1,764,252 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Qualcomm stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the completion of the transaction, the executive vice president directly owned 30,684 shares in the company, valued at $3,999,352.56. This trade represents a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,806 shares of company stock valued at $3,928,958 over the last quarter. 0.05% of the stock is owned by corporate insiders.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm raised its fiscal 2029 non-handset revenue target to $40 billion, signaling a much bigger diversification opportunity beyond mobile chips.
• Positive Sentiment: The company introduced a new data-center AI roadmap and said it sees more than $15 billion in data-center revenue by fiscal 2029, with new Dragonfly products aimed at agentic AI workloads.
• Positive Sentiment: Qualcomm announced a strategic multi-generation CPU agreement with Meta Platforms, giving its AI data-center push a high-profile anchor customer.
• Positive Sentiment: Qualcomm also expanded its relationship with Hugging Face to support developer-driven AI from device to cloud, reinforcing the software ecosystem around its chips.
• Positive Sentiment: Reports that Qualcomm is acquiring AI software firm Modular for about $3.9 billion were viewed as a key step toward building a stronger software stack for its data-center strategy.
• Neutral Sentiment: Analysts and media coverage suggest the stock had been pressured by skepticism around Qualcomm’s late entry into a crowded AI market, but the new announcements appear designed to address that concern.
• Neutral Sentiment: Qualcomm also said it is expanding its automotive design-win pipeline and entering robotics and industrial AI, which could help long-term growth but will take time to materialize.

Qualcomm Stock Performance

QCOM opened at $196.11 on Thursday. The firm has a market cap of $206.70 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 25.36 and a beta of 1.59. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The business's fifty day moving average is $198.52 and its 200-day moving average is $167.48.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.Qualcomm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Sell-side analysts expect that Qualcomm Incorporated will post 7.97 EPS for the current fiscal year.

Qualcomm announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to buy up to 14.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Qualcomm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.9%. This is an increase from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's payout ratio is 40.00%.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $140.00 price objective (down from $175.00) on shares of Qualcomm in a report on Thursday, March 26th. Seaport Research Partners reissued a "sell" rating and set a $100.00 target price on shares of Qualcomm in a report on Monday, March 16th. Tigress Financial boosted their target price 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 downgraded shares of Qualcomm from a "market perform" rating to a "market perform" rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised 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. Fifteen equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $191.90.

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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