Qualcomm Incorporated $QCOM Stock Position Reduced by Plimoth Trust Co. LLC

Key Points

• Plimoth Trust Co. LLC cut its Qualcomm stake by 17.1% in the first quarter, selling 6,890 shares and leaving it with 33,488 shares worth about $4.31 million.
• Several other institutional investors adjusted positions in Qualcomm, and overall hedge funds and institutions own 74.35% of the company’s shares.
• Qualcomm reported quarterly results that beat EPS estimates, and the board authorized a $20 billion share buyback while analysts currently rate the stock a Hold with a consensus price target of $220.45.

Plimoth Trust Co. LLC lessened its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,488 shares of the wireless technology company's stock after selling 6,890 shares during the quarter. Plimoth Trust Co. LLC's holdings in Qualcomm were worth $4,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PFG Investments LLC boosted its stake in shares of Qualcomm by 12.8% during the 1st quarter. PFG Investments LLC now owns 26,187 shares of the wireless technology company's stock valued at $3,372,000 after buying an additional 2,967 shares during the period. Canal Capital Management LLC increased its stake in shares of Qualcomm by 24.9% in the first quarter. Canal Capital Management LLC now owns 65,302 shares of the wireless technology company's stock worth $8,410,000 after acquiring an additional 13,003 shares during the last quarter. 4WEALTH Advisors Inc. increased its stake in shares of Qualcomm by 7.9% in the first quarter. 4WEALTH Advisors Inc. now owns 5,364 shares of the wireless technology company's stock worth $682,000 after acquiring an additional 391 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Qualcomm by 34.6% in the first quarter. Private Advisor Group LLC now owns 149,589 shares of the wireless technology company's stock worth $19,264,000 after acquiring an additional 38,475 shares during the last quarter. Finally, MOR Wealth Management LLC purchased a new stake in shares of Qualcomm during the first quarter worth $325,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In related news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the sale, the executive vice president owned 39,735 shares in the company, valued at $7,065,677.70. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $180.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. This trade represents a 4.82% decrease in their position. 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. In the last ninety days, insiders sold 21,721 shares of company stock valued at $3,918,290. 0.05% of the stock is owned by company insiders.

Qualcomm Price Performance

NASDAQ QCOM opened at $176.25 on Friday. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a fifty day simple moving average of $205.65 and a 200 day simple moving average of $167.95. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54. The company has a market cap of $185.77 billion, a P/E ratio of 19.16, a P/E/G ratio of 5.24 and a beta of 1.63.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts predict that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its board has authorized a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $160.00 price objective on shares of Qualcomm in a research report on Thursday, April 30th. Zacks Research raised Qualcomm from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. Craig Hallum downgraded Qualcomm from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Royal Bank Of Canada lifted their price target on Qualcomm from $175.00 to $250.00 and gave the company a "sector perform" rating in a report on Thursday, June 25th. Finally, Freedom Capital cut Qualcomm from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $220.45.

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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