Qualcomm Incorporated $QCOM Shares Sold by Cannon Advisors Inc.

Key Points

• Cannon Advisors cut its Qualcomm stake by 67.6% in the second quarter, selling 4,306 shares and retaining 2,068 shares valued at approximately $368,000.
• Institutional ownership remains high at 74.35%, although Qualcomm insiders sold 11,529 shares worth roughly $1.99 million over the past 90 days.
• Analysts’ consensus rating is “Hold” with an average price target of $203.63. Qualcomm recently reported $9.95 billion in quarterly revenue, but its $2.21 EPS slightly missed estimates, while revenue declined 4% year over year.

Cannon Advisors Inc. trimmed its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 67.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,068 shares of the wireless technology company's stock after selling 4,306 shares during the quarter. Cannon Advisors Inc.'s holdings in Qualcomm were worth $368,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QCOM. World Investment Advisors raised its stake in shares of Qualcomm by 14.3% during the 4th quarter. World Investment Advisors now owns 64,911 shares of the wireless technology company's stock worth $11,103,000 after buying an additional 8,130 shares during the last quarter. MUFG Securities EMEA plc boosted its position in shares of Qualcomm by 112.2% in the 4th quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock worth $7,524,000 after buying an additional 23,262 shares in the last quarter. Swedbank AB grew its stake in Qualcomm by 1.5% in the 4th quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock valued at $262,291,000 after acquiring an additional 23,110 shares during the last quarter. NBC Securities Inc. grew its stake in Qualcomm by 47.5% in the 4th quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock valued at $3,197,000 after acquiring an additional 6,018 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Qualcomm by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock valued at $24,578,000 after acquiring an additional 7,804 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,529 shares of company stock worth $1,991,345 in the last 90 days. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. JPMorgan Chase & Co. lifted their target price on shares of Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Bank of America increased their price target on shares of Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a research report on Tuesday, June 23rd. Dbs Bank raised shares of Qualcomm to a "moderate buy" rating in a research note on Tuesday, July 7th. Summit Insights upgraded Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Finally, Freedom Capital raised Qualcomm from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $203.63.

Qualcomm Price Performance

Shares of Qualcomm stock opened at $165.79 on Friday. The business's fifty day moving average price is $182.72 and its 200 day moving average price is $167.72. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $174.12 billion, a P/E ratio of 19.19, a PEG ratio of 15.25 and a beta of 1.65.

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 return on equity of 38.36% and a net margin of 21.01%.The business had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. During the same quarter in the prior year, the firm earned $2.77 earnings per share. Qualcomm's quarterly 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. As a group, research analysts anticipate that Qualcomm Incorporated will post 7.76 earnings per share for the current year.

Qualcomm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm's payout ratio is 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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