Qualcomm Incorporated $QCOM Shares Bought by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. boosted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 88.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,953,123 shares of the wireless technology company’s stock after buying an additional 916,849 shares during the period. Qualcomm comprises 2.8% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 4th largest holding. Beutel Goodman & Co Ltd. owned approximately 0.18% of Qualcomm worth $359,452,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. ABS Investment Management LLC bought a new stake in Qualcomm in the second quarter valued at $34,000. ABS Direct Equity Fund LLC bought a new stake in Qualcomm during the 2nd quarter worth about $34,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Qualcomm in the third quarter valued at approximately $35,000. Team Financial Group LLC acquired a new stake in shares of Qualcomm in the 3rd quarter valued at $38,000. Finally, Burk Holdings LLC increased its position in Qualcomm by 191.7% in the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after purchasing an additional 138 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HSBC restated a “hold” rating on shares of Qualcomm in a research report on Wednesday, July 15th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Qualcomm in a research report on Thursday. Zacks Research downgraded Qualcomm from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Finally, Benchmark lowered their price target on Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a report on Monday, July 27th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Qualcomm currently has a consensus rating of “Hold” and an average target price of $197.13.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $171.47 on Tuesday. The firm has a market cap of $183.10 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70. The stock’s 50-day moving average is $178.25 and its 200-day moving average is $169.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a return on equity of 31.91% and a net margin of 31.60%. The firm had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Equities analysts predict that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.1%. Qualcomm’s dividend payout ratio is 28.98%.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue grew 89% to a record $1.99 billion. Qualcomm also expects non-handset revenue to grow by more than 60% in fiscal 2027, supporting hopes that newer businesses can offset smartphone-market weakness. Article
• Positive Sentiment: ETFs made a net $28.3 million purchase of QCOM shares on Nov. 5, with more funds adding shares than reducing their holdings. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan, retaining 39,379 shares. The planned nature of the sale makes it a less clear signal about the company’s outlook. SEC filing
• Negative Sentiment: Handset revenue fell 26%, and earnings guidance came in below expectations, renewing concerns about pressure in Qualcomm’s core smartphone business. Article
• Negative Sentiment: Freedom Broker cut its rating from “buy” to “hold” and reduced its price target from $200 to $185, signaling less near-term upside in its view. Rating information

Insider Buying and Selling

In related news, EVP Ann C. Chaplin sold 1,501 shares of Qualcomm stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $161.54, for a total transaction of $242,471.54. Following the completion of the transaction, the executive vice president owned 27,271 shares in the company, valued at approximately $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 208 shares of Qualcomm stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $170.00, for a total value of $35,360.00. 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. Insiders have sold a total of 35,020 shares of company stock worth $6,509,561 in the last quarter. 0.05% of the stock is owned by company insiders.

Qualcomm Company Profile

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.