Richards Merrill & Peterson Inc. Reduces Stock Position in Qualcomm Incorporated $QCOM

Key Points

• Richards Merrill & Peterson cut its Qualcomm stake by 43.5% in the first quarter, leaving it with 3,753 shares valued at about $483,000.
• Qualcomm reported better-than-expected quarterly results, with EPS of $2.65 versus $2.56 expected and revenue of $10.60 billion, while also raising its quarterly dividend to $0.92 per share.
• Broker sentiment remains mixed: several firms downgraded the stock, and MarketBeat’s consensus rating is Hold with an average price target of $191.90, even as Qualcomm continues to attract attention for its AI and data-center ambitions.

Richards Merrill & Peterson Inc. lessened its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 43.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,753 shares of the wireless technology company's stock after selling 2,890 shares during the quarter. Richards Merrill & Peterson Inc.'s holdings in Qualcomm were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors increased its holdings in Qualcomm by 14.3% during the fourth quarter. World Investment Advisors now owns 64,911 shares of the wireless technology company's stock valued at $11,103,000 after buying an additional 8,130 shares during the period. MUFG Securities EMEA plc raised its stake in Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company's stock worth $7,524,000 after buying an additional 23,262 shares in the last quarter. Swedbank AB lifted its holdings in Qualcomm by 1.5% during the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company's stock worth $262,291,000 after buying an additional 23,110 shares during the period. NBC Securities Inc. lifted its holdings in Qualcomm by 47.5% during the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock worth $3,197,000 after buying an additional 6,018 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Qualcomm by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company's stock valued at $24,578,000 after acquiring an additional 7,804 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCOM. BNP Paribas Exane downgraded Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Seaport Research Partners restated a "sell" rating and set a $100.00 price objective on shares of Qualcomm in a research note on Monday, March 16th. Summit Insights raised Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. The Goldman Sachs Group started coverage on Qualcomm in a research note on Monday, March 30th. They issued a "neutral" rating and a $135.00 target price on the stock. Finally, UBS Group downgraded shares of Qualcomm from a "neutral" rating to an "underperform" rating in a report on Friday, May 8th. Fifteen analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $191.90.

Insiders Place Their Bets

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the sale, the executive vice president owned 39,735 shares of the company's stock, valued at approximately $7,065,677.70. This trade represents a 7.45% decrease in their ownership of the stock. The sale 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, CAO Patricia Y. Grech sold 829 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 21,806 shares of company stock valued at $3,928,958. 0.05% of the stock is owned by corporate insiders.

Qualcomm Price Performance

NASDAQ QCOM opened at $204.13 on Wednesday. The firm's fifty day simple moving average is $197.22 and its two-hundred day simple moving average is $167.32. The firm has a market capitalization of $215.15 billion, a P/E ratio of 22.19, a P/E/G ratio of 27.57 and a beta of 1.59. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Analysts forecast that Qualcomm Incorporated will post 7.97 EPS for the current fiscal year.

Qualcomm Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.8%. This is an increase from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's dividend payout ratio is currently 40.00%.

Qualcomm announced that its board has authorized a stock repurchase program on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to buy up to 14.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Several articles argue Qualcomm’s AI pivot could be smarter than it looks, with the company’s low-power chip expertise potentially well suited for AI inference and edge computing rather than head-to-head competition in AI training. Qualcomm's AI Pivot: Smarter Than It Looks
• Positive Sentiment: Analyst commentary and media coverage suggest the proposed Modular acquisition could expand Qualcomm’s AI ambitions and help support the stock’s longer-term rally if it creates a credible data-center AI platform. Qualcomm Stock Drops but the Chip Maker Has a Plan to Save AI Rally
• Neutral Sentiment: Bank of America raised its price target on Qualcomm, but kept an underperform rating, reflecting a more cautious stance even as valuation work suggests some downside may already be reflected. Qualcomm price target raised by Bank of America
• Neutral Sentiment: Qualcomm’s latest segment trends remain mixed: handset weakness is still weighing on QCT revenue, while automotive and IoT growth continue to offset some of that pressure. Can Qualcomm's QCT Segment Sustain Growth Amid Handset Weakness?
• Negative Sentiment: Some analysts are skeptical that Qualcomm’s AI and data-center opportunity is enough to justify enthusiasm, warning that it is still a late mover in an overcrowded AI semiconductor market. Qualcomm AI, Data Center Opportunity Fails To Win Over Analyst
• Negative Sentiment: The stock also fell amid a broader technology selloff, which amplified the move lower and added pressure despite the Modular acquisition headlines. Qualcomm nearing deal for AI chip startup Modular, Bloomberg News reports

Qualcomm 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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