HighTower Advisors LLC Has $222.69 Million Stake in Qualcomm Incorporated $QCOM

Key Points

• HighTower Advisors trimmed its Qualcomm stake by 2.3% in the fourth quarter, but still held 1.3 million shares worth about $222.7 million at period-end.
• Qualcomm reported quarterly earnings of $2.65 per share, topping estimates, and revenue of $10.60 billion, slightly above expectations, though revenue was down 3.5% year over year.
• The company boosted its quarterly dividend to $0.92 per share and authorized a $20 billion stock repurchase plan, while analysts currently rate the stock a consensus Hold.

HighTower Advisors LLC trimmed its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,301,908 shares of the wireless technology company's stock after selling 30,072 shares during the quarter. HighTower Advisors LLC owned 0.12% of Qualcomm worth $222,691,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swedbank AB grew its position in Qualcomm by 1.5% in the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock valued at $262,291,000 after acquiring an additional 23,110 shares during the period. NBC Securities Inc. grew its position in Qualcomm by 47.5% in the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock valued at $3,197,000 after acquiring an additional 6,018 shares during the period. Sequoia Financial Advisors LLC grew its position in Qualcomm by 5.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock valued at $24,578,000 after acquiring an additional 7,804 shares during the period. Valley Wealth Managers Inc. grew its position in Qualcomm by 6.1% in the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company's stock valued at $6,844,000 after acquiring an additional 2,288 shares during the period. Finally, Western Wealth Management LLC grew its position in Qualcomm by 16.9% in the fourth quarter. Western Wealth Management LLC now owns 20,682 shares of the wireless technology company's stock valued at $3,538,000 after acquiring an additional 2,990 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Patricia Y. Grech sold 192 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $172.00, for a total transaction of $33,024.00. 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 Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the sale, the executive vice president directly owned 39,735 shares in the company, valued at approximately $7,065,677.70. This represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,477 shares of company stock worth $3,268,316. 0.05% of the stock is owned by company insiders.

Qualcomm Price Performance

Qualcomm stock opened at $203.64 on Tuesday. The business's 50-day simple moving average is $148.69 and its 200 day simple moving average is $157.80. The stock has a market cap of $214.64 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 24.96 and a beta of 1.49. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $247.90. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.09. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. During the same quarter in the prior year, the firm posted $2.85 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, research analysts anticipate that Qualcomm Incorporated will post 7.99 earnings per share for the current year.

Qualcomm declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Qualcomm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. This is an increase from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, June 4th. Qualcomm's payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Benchmark upped their price target on Qualcomm from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Roth Mkm began coverage on Qualcomm in a report on Friday, May 8th. They set a "buy" rating on the stock. TD Cowen increased their target price on Qualcomm from $150.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. DZ Bank cut Qualcomm from a "buy" rating to a "hold" rating and set a $195.00 target price on the stock. in a report on Friday, May 8th. Finally, Seaport Research Partners restated a "sell" rating and set a $100.00 target price on shares of Qualcomm in a report on Monday, March 16th. Fourteen research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $181.79.

Qualcomm 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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