Qualcomm Incorporated $QCOM Shares Sold by Choate Investment Advisors

Key Points

• Choate Investment Advisors cut its Qualcomm stake by 38.4% in the fourth quarter, selling 7,841 shares and ending with 12,576 shares valued at about $2.15 million.
• Qualcomm reported better-than-expected quarterly earnings of $2.65 per share on revenue of $10.60 billion, while also issuing Q3 2026 EPS guidance of 2.10 to 2.30.
• The company announced a $20 billion share repurchase program and raised its quarterly dividend to $0.92 per share, up from $0.89.

Choate Investment Advisors lessened its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,576 shares of the wireless technology company's stock after selling 7,841 shares during the quarter. Choate Investment Advisors' holdings in Qualcomm were worth $2,151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Wellington Management Group LLP boosted its holdings in Qualcomm by 141.8% in the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after purchasing an additional 7,292,783 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Qualcomm by 36.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company's stock worth $1,090,025,000 after purchasing an additional 1,764,252 shares during the period. Viking Global Investors LP boosted its holdings in Qualcomm by 120.1% in the second quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company's stock worth $502,125,000 after purchasing an additional 1,720,529 shares during the period. Rafferty Asset Management LLC boosted its holdings in Qualcomm by 59.1% in the second quarter. Rafferty Asset Management LLC now owns 4,418,406 shares of the wireless technology company's stock worth $703,675,000 after purchasing an additional 1,641,068 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Qualcomm by 18.3% in the third quarter. Van ECK Associates Corp now owns 9,050,717 shares of the wireless technology company's stock worth $1,505,677,000 after purchasing an additional 1,397,466 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Price Performance

Shares of NASDAQ QCOM opened at $238.16 on Tuesday. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $247.90. The firm's 50-day simple moving average is $156.96 and its 200 day simple moving average is $159.19. 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 stock has a market cap of $251.02 billion, a P/E ratio of 25.89, a P/E/G ratio of 29.50 and a beta of 1.49.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.59 billion. During the same period in the previous year, the business earned $2.85 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Equities analysts expect that Qualcomm Incorporated will post 7.99 EPS for the current year.

Qualcomm announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 17th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a dividend of $0.92 per share. This is an increase from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, June 4th. Qualcomm's dividend payout ratio (DPR) is presently 38.70%.

Insider Activity at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the sale, the executive vice president directly owned 39,735 shares in the company, valued at $7,065,677.70. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction 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. Insiders have sold 19,306 shares of company stock valued at $3,435,583 in the last ninety days. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QCOM shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $190.00 price objective on shares of Qualcomm in a report on Thursday, April 30th. Zacks Research raised shares of Qualcomm from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price target on shares of Qualcomm from $150.00 to $175.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Argus set a $220.00 price target on shares of Qualcomm in a report on Friday, May 1st. Finally, Roth Mkm assumed coverage on shares of Qualcomm in a report on Friday, May 8th. They set a "buy" rating for the company. Fourteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $181.79.

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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