NewEdge Advisors LLC Sells 244,788 Shares of Qualcomm Incorporated $QCOM

Key Points

• NewEdge Advisors cut its Qualcomm position by 60.8% in the first quarter, selling 244,788 shares and retaining 158,124 shares valued at approximately $20.4 million. Institutional investors collectively own 74.35% of QCOM.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $203.63. Recent targets range from $180 at Barclays to $280 at Tigress Financial.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding estimates, but EPS of $2.21 narrowly missed expectations and revenue declined 4% year over year. The company declared a quarterly dividend of $0.92 per share, representing a 2.2% annualized yield.

NewEdge Advisors LLC lowered its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 60.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,124 shares of the wireless technology company's stock after selling 244,788 shares during the quarter. NewEdge Advisors LLC's holdings in Qualcomm were worth $20,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Basepoint Wealth LLC raised its holdings in Qualcomm by 1.8% in the 1st quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company's stock worth $429,000 after purchasing an additional 59 shares in the last quarter. Modern Wealth Management LLC raised its stake in Qualcomm by 0.5% in the first quarter. Modern Wealth Management LLC now owns 13,704 shares of the wireless technology company's stock worth $1,744,000 after buying an additional 64 shares in the last quarter. Dakota Community Bank & Trust NA lifted its holdings in Qualcomm by 3.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,847 shares of the wireless technology company's stock worth $316,000 after buying an additional 65 shares during the period. S.A. Mason LLC boosted its position in Qualcomm by 5.9% during the 4th quarter. S.A. Mason LLC now owns 1,192 shares of the wireless technology company's stock valued at $204,000 after acquiring an additional 66 shares in the last quarter. Finally, Marion Wealth Management grew its holdings in shares of Qualcomm by 4.5% during the 4th quarter. Marion Wealth Management now owns 1,567 shares of the wireless technology company's stock worth $244,000 after acquiring an additional 67 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Rosenblatt Securities reduced their price target on Qualcomm from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. HSBC reiterated a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Monness Crespi & Hardt raised shares of Qualcomm to a "buy" rating in a research note on Thursday, June 25th. Tigress Financial boosted their price target on Qualcomm from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Barclays reaffirmed an "underweight" rating and set a $180.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty-one have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $203.63.

Insiders Place Their Bets

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $211.90, for a total value of $529,750.00. Following the transaction, the executive vice president directly owned 28,184 shares of the company's stock, valued at approximately $5,972,189.60. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,529 shares of company stock valued at $2,112,945. Insiders own 0.05% of the company's stock.

Qualcomm Trading Up 4.7%

NASDAQ:QCOM opened at $167.86 on Friday. The stock has a market cap of $176.29 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 14.72 and a beta of 1.65. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company's 50 day moving average price is $189.92 and its 200-day moving average price is $167.48. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period last year, the company posted $2.77 earnings per share. The business's 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. On average, equities research analysts forecast that Qualcomm Incorporated will post 7.78 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued 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 yield of 2.2%. Qualcomm's dividend payout ratio is currently 42.59%.

About Qualcomm

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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