Qualcomm Incorporated $QCOM Shares Bought by StoneX Group Inc.

Key Points

• StoneX Group increased its Qualcomm stake by 25.8% in the third quarter, adding 4,413 shares to hold 21,538 shares valued at $3.89 million.
• Institutional investors overall own 74.35% of Qualcomm shares, with several other firms also adding to their positions during the quarter.
• Qualcomm narrowly beat quarterly earnings and revenue estimates, but revenue and EPS declined year over year; analysts’ consensus rating is Hold, with an average price target of $197.55.

StoneX Group Inc. raised its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 25.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,538 shares of the wireless technology company's stock after buying an additional 4,413 shares during the quarter. StoneX Group Inc.'s holdings in Qualcomm were worth $3,888,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of Qualcomm by 2.2% during the 3rd quarter. Parallel Advisors LLC now owns 20,099 shares of the wireless technology company's stock valued at $3,699,000 after buying an additional 436 shares in the last quarter. Guidance Capital Inc. lifted its holdings in shares of Qualcomm by 0.9% in the 3rd quarter. Guidance Capital Inc. now owns 8,180 shares of the wireless technology company's stock valued at $1,505,000 after acquiring an additional 72 shares during the last quarter. Tamar Securities LLC lifted its holdings in shares of Qualcomm by 3.3% in the 3rd quarter. Tamar Securities LLC now owns 153,879 shares of the wireless technology company's stock valued at $28,320,000 after acquiring an additional 4,953 shares during the last quarter. Asset Dedication LLC grew its position in Qualcomm by 109.1% in the third quarter. Asset Dedication LLC now owns 8,341 shares of the wireless technology company's stock worth $1,535,000 after acquiring an additional 4,352 shares in the last quarter. Finally, Plancorp LLC grew its position in Qualcomm by 12.4% in the third quarter. Plancorp LLC now owns 10,805 shares of the wireless technology company's stock worth $1,989,000 after acquiring an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CEO Cristiano Amon sold 10,000 shares of the company's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer owned 177,568 shares of the company's stock, valued at approximately $35,513,600. This represents a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their ownership of the stock. 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. Insiders have sold 31,820 shares of company stock worth $5,980,217 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QCOM. Susquehanna reduced their price objective on Qualcomm from $185.00 to $165.00 and set a "neutral" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Qualcomm from $215.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday. TD Cowen dropped their target price on Qualcomm from $200.00 to $185.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley cut their target price on Qualcomm from $231.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Finally, Arete Research upgraded Qualcomm to a "strong-buy" rating in a report on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $197.55.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Price Performance

Qualcomm stock opened at $165.41 on Friday. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a current ratio of 1.86, a quick ratio of 1.28 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $178.11 and a 200-day moving average price of $169.52. The firm has a market capitalization of $176.99 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 3.73 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The company had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. During the same period in the prior year, the firm posted $3.00 EPS. The firm's revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm's payout ratio is 28.98%.

Qualcomm Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.

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