QUALCOMM Incorporated $QCOM Shares Sold by Ascent Group LLC

Key Points

• Ascent Group LLC reduced its holdings in QUALCOMM by 33.4% during the first quarter, now owning 7,040 shares valued at approximately $1.08 million.
• Oversea Chinese Banking Corp Ltd significantly increased its stake in QUALCOMM by 565.0%, now holding 124,327 shares after acquiring an additional 105,631 shares.
• CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock at an average price of $156.86, marking a 7.71% decrease in his holdings.

Ascent Group LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,040 shares of the wireless technology company's stock after selling 3,534 shares during the period. Ascent Group LLC's holdings in QUALCOMM were worth $1,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after purchasing an additional 105,631 shares during the last quarter. PFG Advisors grew its stake in shares of QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after buying an additional 321 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of QUALCOMM by 3.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after buying an additional 145,509 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the transaction, the chief financial officer owned 39,874 shares in the company, valued at approximately $6,254,635.64. This represents a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Patricia Y. Grech sold 236 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $158.36, for a total value of $37,372.96. Following the completion of the transaction, the chief accounting officer owned 677 shares in the company, valued at approximately $107,209.72. The trade was a 25.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,626 shares of company stock worth $1,948,054. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $158.66 on Wednesday. The company has a market cap of $171.19 billion, a P/E ratio of 15.30, a PEG ratio of 2.33 and a beta of 1.21. The firm has a fifty day moving average price of $156.48 and a 200 day moving average price of $152.04. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the business earned $2.33 EPS. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. QUALCOMM's dividend payout ratio is presently 34.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QCOM shares. Arete Research set a $200.00 price objective on QUALCOMM in a research note on Tuesday, August 26th. Bank of America dropped their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Piper Sandler dropped their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $182.82.

QUALCOMM Profile

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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