QUALCOMM Incorporated $QCOM Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its holdings in QUALCOMM by 48.4% during the 2nd quarter, selling 161,979 shares and retaining 172,762 shares valued at approximately $27.5 million.
• Hedge funds and institutional investors own about 74.35% of QUALCOMM's stock, with some firms like Nuveen LLC and GAMMA Investing LLC increasing their stakes significantly in recent months.
• QUALCOMM announced a quarterly dividend of $0.89 per share, which will be paid on September 25th, representing an annualized dividend of $3.56 with a yield of 2.2%.

Exchange Traded Concepts LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 48.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,762 shares of the wireless technology company's stock after selling 161,979 shares during the quarter. Exchange Traded Concepts LLC's holdings in QUALCOMM were worth $27,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Nuveen LLC purchased a new position in shares of QUALCOMM in the first quarter valued at approximately $529,713,000. GAMMA Investing LLC boosted its stake in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 valued at $1,114,403,000 after purchasing an additional 1,407,797 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $204,085,000. Finally, Assenagon Asset Management S.A. raised its holdings in QUALCOMM by 222.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,385,326 shares of the wireless technology company's stock worth $212,800,000 after purchasing an additional 956,311 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Bank of America cut their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Arete Research set a $200.00 target price on shares of QUALCOMM in a report on Tuesday, August 26th. Finally, Mizuho cut their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.82.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the sale, the chief financial officer directly owned 39,874 shares of the company's stock, valued at $6,254,635.64. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Patricia Y. Grech sold 273 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the sale, the chief accounting officer directly owned 404 shares of the company's stock, valued at approximately $65,213.68. This represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,899 shares of company stock valued at $1,992,121 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM stock traded down $1.28 during trading on Friday, hitting $166.85. The stock had a trading volume of 19,434,943 shares, compared to its average volume of 6,952,979. The company's 50 day moving average price is $157.04 and its two-hundred day moving average price is $152.36. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The stock has a market cap of $180.03 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, September 4th. 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.