Qualcomm Incorporated $QCOM Stock Holdings Lifted by M&G PLC

M&G PLC lifted its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 32.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,162,615 shares of the wireless technology company’s stock after buying an additional 283,055 shares during the quarter. Qualcomm makes up 1.1% of M&G PLC’s holdings, making the stock its 27th largest holding. M&G PLC owned 0.11% of Qualcomm worth $213,921,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of QCOM. Vestor Capital LLC boosted its stake in Qualcomm by 182.3% in the 3rd quarter. Vestor Capital LLC now owns 1,759 shares of the wireless technology company’s stock worth $324,000 after purchasing an additional 1,136 shares during the period. Leuthold Group LLC raised its position in shares of Qualcomm by 42.0% during the third quarter. Leuthold Group LLC now owns 7,925 shares of the wireless technology company’s stock valued at $1,459,000 after buying an additional 2,345 shares during the last quarter. Palacios Wealth Management LLC raised its position in shares of Qualcomm by 2.3% during the third quarter. Palacios Wealth Management LLC now owns 6,395 shares of the wireless technology company’s stock valued at $1,177,000 after buying an additional 141 shares during the last quarter. Clear Wave Wealth Management LLC lifted its holdings in shares of Qualcomm by 10.3% in the third quarter. Clear Wave Wealth Management LLC now owns 2,354 shares of the wireless technology company’s stock worth $433,000 after buying an additional 219 shares in the last quarter. Finally, Joseph Group Capital Management lifted its holdings in shares of Qualcomm by 27.7% in the third quarter. Joseph Group Capital Management now owns 337 shares of the wireless technology company’s stock worth $62,000 after buying an additional 73 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, EVP Heather Ace sold 3,200 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $165.42, for a total transaction of $529,344.00. Following the completion of the transaction, the executive vice president directly owned 39,379 shares in the company, valued at $6,514,074.18. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the transaction, the executive vice president owned 25,770 shares of the company’s stock, valued at $4,503,307.50. This represents a 6.62% 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 have sold a total of 35,020 shares of company stock valued at $6,509,561 over the last quarter. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on QCOM shares. Freedom Broker lowered Qualcomm from a “buy” rating to a “hold” rating and dropped their price target for the company from $200.00 to $185.00 in a research note on Monday. Rosenblatt Securities cut their price target on shares of Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Barclays reduced their target price on Qualcomm from $180.00 to $150.00 and set an “underweight” rating on the stock in a research note on Thursday. Cantor Fitzgerald dropped their target price on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Finally, Zacks Research lowered shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $197.13.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $171.47 on Tuesday. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company’s 50 day moving average is $178.25 and its 200 day moving average is $169.60. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $183.10 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70.

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

Qualcomm Dividend Announcement

The firm 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 $0.92 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio is presently 28.98%.

Key Stories Impacting 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

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.