Corebridge Financial Inc. Has $52 Million Stake in QUALCOMM Incorporated $QCOM

Key Points

• Corebridge Financial Inc. reduced its stake in QUALCOMM by 3.7%, owning 338,523 shares valued at approximately $52 million as of the latest SEC filing.
• QUALCOMM reported a net margin of 26.77% and earnings of $2.77 per share for its latest quarter, exceeding expectations.
• The company has announced a quarterly dividend of $0.89 per share, representing an annual yield of 2.3%, with the payment scheduled for September 25th.

Corebridge Financial Inc. decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 338,523 shares of the wireless technology company's stock after selling 12,938 shares during the period. Corebridge Financial Inc.'s holdings in QUALCOMM were worth $52,001,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.75 during mid-day trading on Tuesday, reaching $159.17. The stock had a trading volume of 9,171,973 shares, compared to its average volume of 8,469,133. The firm's 50 day simple moving average is $155.72 and its 200 day simple moving average is $152.89. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The firm has a market cap of $171.74 billion, a PE ratio of 15.35, a P/E/G ratio of 2.28 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $2.33 EPS. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Analysts Set New Price Targets

A number of research analysts have recently commented on QCOM shares. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an "outperform" rating in a report on Monday, July 28th. Piper Sandler lowered their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $182.82.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm'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 value of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,390 shares of company stock worth $1,874,817 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Company 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.