Goelzer Investment Management Inc. Trims Stock Holdings in Qualcomm Incorporated $QCOM

Key Points

• Goelzer Investment Management reduced its Qualcomm stake by 3.9% in the second quarter, selling 3,137 shares and retaining 77,526 shares valued at approximately $14.3 million.
• Qualcomm’s latest quarter showed mixed results: EPS of $2.21 missed estimates, while revenue of $9.95 billion exceeded forecasts; revenue declined 4% year over year. The stock opened at $165.79, well below its 12-month high of $259.92.
• Analysts maintain a consensus “Hold” rating with an average price target of $203.63. Qualcomm also declared a quarterly dividend of $0.92 per share, representing a 2.2% annualized yield.

Goelzer Investment Management Inc. decreased its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,526 shares of the wireless technology company's stock after selling 3,137 shares during the quarter. Qualcomm comprises approximately 0.6% of Goelzer Investment Management Inc.'s portfolio, making the stock its 21st biggest holding. Goelzer Investment Management Inc.'s holdings in Qualcomm were worth $14,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its stake in shares of Qualcomm by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock valued at $19,524,350,000 after purchasing an additional 647,076 shares during the period. Geode Capital Management LLC boosted its stake in Qualcomm by 12.5% in 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 period. Wellington Management Group LLP boosted its stake in Qualcomm by 34.5% in the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares during the period. Norges Bank purchased a new position in Qualcomm during the 4th quarter valued at about $2,591,056,000. Finally, Amundi increased its position in shares of Qualcomm by 9.9% during the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock valued at $2,136,486,000 after buying an additional 1,138,541 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Price Performance

Shares of Qualcomm stock opened at $165.79 on Friday. The firm has a market capitalization of $174.12 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 15.16 and a beta of 1.65. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The business's 50-day moving average price is $182.72 and its 200-day moving average price is $167.72.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the previous year, the firm earned $2.77 EPS. The business's quarterly revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts forecast that Qualcomm Incorporated will post 7.76 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. Qualcomm's dividend payout ratio is 42.59%.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the transaction, the executive vice president owned 20,684 shares of the company's stock, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,529 shares of company stock valued at $1,991,345. Corporate insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Qualcomm from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Craig Hallum lowered shares of Qualcomm from a "buy" rating to a "hold" rating in a report on Thursday, June 25th. Bank of America increased their target price on shares of Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a research note on Tuesday, June 23rd. TD Cowen cut their price target on shares of Qualcomm from $225.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Guggenheim set a $200.00 price target on shares of Qualcomm in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $203.63.

Qualcomm Company Profile

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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