Qualcomm Incorporated $QCOM Shares Sold by Manhattan West Asset Management LLC

Key Points

• Manhattan West Asset Management cut its Qualcomm stake by 29.5% in the second quarter, selling 6,996 shares and retaining 16,754 shares valued at $3.1 million. Institutional investors and hedge funds own 74.35% of Qualcomm.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $203.63. Recent targets range from $160 at RBC to $265 at JPMorgan, while insiders have sold $1.93 million worth of shares over the past 90 days.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding estimates, but adjusted EPS of $2.21 narrowly missed expectations and revenue declined 4% year over year. The company declared a quarterly dividend of $0.92 per share, representing a 2.3% annualized yield.

Manhattan West Asset Management LLC reduced its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 29.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,754 shares of the wireless technology company's stock after selling 6,996 shares during the period. Manhattan West Asset Management LLC's holdings in Qualcomm were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Your Advocates Ltd. LLP acquired a new position in shares of Qualcomm in the first quarter worth $26,000. Torren Management LLC acquired a new stake in shares of Qualcomm in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Qualcomm in the fourth quarter valued at $31,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in Qualcomm in the fourth quarter valued at $32,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 625 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. The trade was a 75.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president owned 36,535 shares of the company's stock, valued at approximately $5,372,106.40. The trade was a 8.05% 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. Insiders sold a total of 11,325 shares of company stock worth $1,925,859 over the last 90 days. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada cut their price target on Qualcomm from $250.00 to $160.00 and set a "sector perform" rating on the stock in a report on Thursday, July 30th. Dbs Bank upgraded Qualcomm to a "moderate buy" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted 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 research note on Thursday, June 25th. Finally, Raymond James Financial initiated coverage on shares of Qualcomm in a report on Thursday, June 25th. They issued a "strong-buy" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $203.63.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $160.75 on Friday. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month 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 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. The business's fifty day moving average price is $178.26 and its 200 day moving average price is $168.01.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The business had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts anticipate that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.3%. Qualcomm's payout ratio is presently 42.59%.

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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