Qualcomm Incorporated $QCOM Stock: Asset Dedication LLC Raises Position

Key Points

• Asset Dedication LLC increased its Qualcomm stake by 109.1% in the third quarter, adding 4,352 shares to own 8,341 shares valued at about $1.54 million.
• Qualcomm reported quarterly revenue of $10.44 billion and EPS of $2.17, narrowly beating analyst estimates, but revenue fell 8.4% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $197.55; several firms recently lowered their targets. Qualcomm also announced a $0.92 quarterly dividend per share.

Asset Dedication LLC lifted its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 109.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,341 shares of the wireless technology company's stock after buying an additional 4,352 shares during the quarter. Asset Dedication LLC's holdings in Qualcomm were worth $1,535,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. ABS Investment Management LLC bought a new position in Qualcomm during the second quarter worth about $34,000. ABS Direct Equity Fund LLC purchased a new position in Qualcomm in the 2nd quarter worth approximately $34,000. Team Financial Group LLC purchased a new position in shares of Qualcomm in the 3rd quarter worth $38,000. Burk Holdings LLC grew its stake in Qualcomm by 191.7% during the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company's stock valued at $39,000 after purchasing an additional 138 shares during the last quarter. Finally, Harborfront Financial Group LLC purchased a new stake in shares of Qualcomm in the 2nd quarter valued at approximately $41,000. 74.35% of the stock is owned by institutional investors.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. HSBC reissued a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a "neutral" rating on shares of Qualcomm in a research note on Thursday. Sanford C. Bernstein decreased their price target on Qualcomm from $165.00 to $155.00 and set a "market perform" rating for the company in a report on Monday. Citigroup decreased their price objective on Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Finally, UBS Group reduced their target price on Qualcomm from $185.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $197.55.

Qualcomm Price Performance

Shares of QCOM stock opened at $165.41 on Friday. The stock's fifty day moving average is $178.11 and its 200-day moving average is $169.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The stock has a market capitalization of $176.63 billion, a PE ratio of 13.02, a PEG ratio of 3.65 and a beta of 1.70. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.12 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 earnings per share. Equities research analysts expect that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm's payout ratio is currently 28.98%.

Insider Buying and Selling

In other news, EVP Ann Chaplin sold 1,827 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Friday, September 11th. The stock was sold at an average price of $182.85, for a total transaction of $457,125.00. Following the sale, the executive vice president owned 18,184 shares of the company's stock, valued at $3,324,944.40. The trade was a 12.09% 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 31,820 shares of company stock valued at $5,980,217 in the last ninety days. Insiders own 0.05% of the company's stock.

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.

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