Qualcomm Incorporated $QCOM Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 31.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,661 shares of the wireless technology company's stock after selling 15,425 shares during the quarter. Westpac Banking Corp's holdings in Qualcomm were worth $6,220,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Your Advocates Ltd. LLP acquired a new stake in Qualcomm during the 1st quarter worth approximately $26,000. Torren Management LLC acquired a new position in shares of Qualcomm in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 170 shares during the period. Birchwood Financial Partners Inc. purchased a new stake in shares of Qualcomm during the fourth quarter worth approximately $31,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of Qualcomm during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at Qualcomm

In other news, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 625 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their ownership of the stock. 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 valued at $1,925,859 over the last three months. 0.05% of the stock is currently owned by insiders.

Qualcomm Stock Performance

Shares of QCOM stock opened at $160.75 on Monday. The stock has a market cap of $168.82 billion, a P/E ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The business has a fifty day simple moving average of $178.26 and a 200-day simple moving average of $168.12.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $9.95 billion during 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%.Qualcomm's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently disclosed 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. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's payout ratio is currently 42.59%.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Zacks Research upgraded shares of Qualcomm from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. TD Cowen dropped their price objective on Qualcomm from $225.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Bank of America increased their price objective on Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a research report on Tuesday, June 23rd. Lake Street Capital downgraded Qualcomm to a "hold" rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $160.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source