First American Bank Sells 8,063 Shares of QUALCOMM Incorporated $QCOM

Key Points

• First American Bank reduced its holdings in QUALCOMM by 60.1%, selling 8,063 shares and now owns 5,352 shares valued at approximately $852,000.
• Several other hedge funds have recently adjusted their positions in QUALCOMM, with significant increases in ownership percentages, including Atticus Wealth Management growing by 21,200% during the second quarter.
• QUALCOMM's stock reached a 52-week high of $182.10, while the company posted an earnings per share (EPS) of $2.77, exceeding analysts' expectations by $0.06.

First American Bank cut its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 60.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,352 shares of the wireless technology company's stock after selling 8,063 shares during the quarter. First American Bank's holdings in QUALCOMM were worth $852,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at $27,000. Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM in the fourth quarter valued at $30,000. Finally, Atticus Wealth Management LLC grew its position in shares of QUALCOMM by 21,200.0% in the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company's stock valued at $34,000 after purchasing an additional 212 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CAO Patricia Y. Grech sold 273 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. This represents a 40.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 791 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares of the company's stock, valued at $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,100 shares of company stock valued at $2,026,291 over the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $169.20 on Friday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The business has a 50-day simple moving average of $158.67 and a 200 day simple moving average of $152.87. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $182.57 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.46 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm's revenue 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho reduced their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. UBS Group lifted their price target on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Piper Sandler reduced their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and a consensus target price of $182.82.

About QUALCOMM

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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