Qualcomm Incorporated $QCOM Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,163 shares of the wireless technology company's stock after selling 3,335 shares during the period. Qualcomm accounts for about 1.6% of Baxter Bros Inc.'s holdings, making the stock its 19th biggest position. Baxter Bros Inc.'s holdings in Qualcomm were worth $12,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. lifted its holdings in shares of Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares during the last quarter. Torren Management LLC purchased a new position in Qualcomm during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after buying an additional 170 shares during the period. Birchwood Financial Partners Inc. acquired a new position in Qualcomm during the fourth quarter worth approximately $31,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Qualcomm by 113.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock valued at $32,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Stock Up 5.8%

Shares of NASDAQ:QCOM opened at $186.48 on Tuesday. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. The firm's 50-day simple moving average is $205.65 and its 200-day simple moving average is $167.87. The company has a market cap of $196.55 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 5.24 and a beta of 1.63.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts predict that Qualcomm Incorporated will post 7.96 earnings per share for the current year.

Qualcomm declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the wireless technology company to reacquire up to 14.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QCOM. Raymond James Financial initiated coverage on shares of Qualcomm in a research note on Thursday, June 25th. They set a "strong-buy" rating for the company. Daiwa Securities Group upgraded shares of Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price objective on the stock in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on shares of Qualcomm from $230.00 to $265.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Citigroup increased their target price on shares of Qualcomm from $160.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Qualcomm in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $220.45.

Insiders Place Their Bets

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $130.34, for a total value of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares in the company, valued at $3,999,352.56. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. 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 quarter, insiders sold 21,721 shares of company stock valued at $3,918,290. Corporate insiders own 0.05% of the company's stock.

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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