Pallas Capital Advisors LLC Sells 45,808 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Pallas Capital Advisors LLC reduced its stake in QUALCOMM by 89.4%, selling 45,808 shares and holding only 5,440 at a value of $866,000.
• Several institutional investors recently added positions in QUALCOMM, with 74.35% of the stock now owned by institutional investors and hedge funds.
• QUALCOMM announced a quarterly dividend of $0.89, representing an annual yield of 2.1%, with a payout ratio of 34.33%.

Pallas Capital Advisors LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 89.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,440 shares of the wireless technology company's stock after selling 45,808 shares during the period. Pallas Capital Advisors LLC's holdings in QUALCOMM were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Brighton Jones LLC boosted its position in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC boosted its position in QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after buying an additional 340 shares during the last quarter. Woodline Partners LP purchased a new position in QUALCOMM in the 4th quarter valued at about $7,234,000. Focus Partners Advisor Solutions LLC boosted its position in QUALCOMM by 5.8% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 8,017 shares of the wireless technology company's stock valued at $1,232,000 after buying an additional 442 shares during the last quarter. Finally, Cornerstone Advisory LLC boosted its position in QUALCOMM by 6.7% in the 4th quarter. Cornerstone Advisory LLC now owns 1,816 shares of the wireless technology company's stock valued at $279,000 after buying an additional 114 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Piper Sandler decreased their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Mizuho dropped their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.82.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total value of $522,814.38. Following the transaction, the chief financial officer owned 39,874 shares in the company, valued at $6,254,635.64. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,899 shares of company stock worth $1,992,121. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.7%

Shares of QCOM stock traded up $2.88 on Monday, hitting $169.73. The company's stock had a trading volume of 3,017,337 shares, compared to its average volume of 8,310,228. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm's fifty day moving average price is $157.04 and its 200-day moving average price is $152.33. The stock has a market capitalization of $183.14 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 2.41 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the business earned $2.33 EPS. QUALCOMM's quarterly revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.