Qualcomm Incorporated $QCOM Shares Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman & Co. cut its Qualcomm position by 57% in the second quarter, selling 1.37 million shares and retaining 1.04 million shares valued at approximately $191.5 million.
• Qualcomm reported quarterly revenue of $9.95 billion, ahead of estimates, but EPS of $2.21 slightly missed forecasts and revenue declined 4% year over year. The company declared a quarterly dividend of $0.92 per share, representing a 2.3% yield.
• Analyst sentiment is mixed, with Qualcomm carrying a consensus “Hold” rating and an average price target of $203.63 versus a recent share price of $160.75; insiders have also sold $1.93 million of stock over the past three months.

Beutel Goodman & Co Ltd. lowered its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 57.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,036,274 shares of the wireless technology company's stock after selling 1,372,009 shares during the quarter. Beutel Goodman & Co Ltd. owned about 0.10% of Qualcomm worth $191,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Your Advocates Ltd. LLP purchased a new stake in shares of Qualcomm in the 1st quarter valued at approximately $26,000. Torren Management LLC acquired a new position in Qualcomm in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new position in Qualcomm in the fourth quarter worth approximately $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in Qualcomm during the fourth quarter worth $32,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $160.75 on Monday. The firm has a market capitalization of $168.82 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 14.84 and a beta of 1.65. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The firm's 50-day moving average is $178.26 and its two-hundred day moving average is $168.12.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $9.69 billion. During the same quarter last year, the firm posted $2.77 EPS. The company's revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts predict that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio (DPR) is presently 42.59%.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the transaction, the executive vice president directly owned 20,684 shares in the company, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their ownership of the stock. The transaction 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 625 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at $33,872.80. This trade represents a 75.03% decrease in their position. 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 11,325 shares of company stock worth $1,925,859. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Melius Research set a $220.00 target price on Qualcomm in a research report on Monday, May 18th. BNP Paribas Exane cut Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Craig Hallum lowered shares of Qualcomm from a "buy" rating to a "hold" rating in a report on Thursday, June 25th. Finally, TD Cowen lowered their target price on shares of Qualcomm from $225.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Qualcomm currently has an average rating of "Hold" and an average price target of $203.63.

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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