Qualcomm Incorporated $QCOM Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 65.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 223,981 shares of the wireless technology company’s stock after selling 419,047 shares during the period. Retirement Systems of Alabama’s holdings in Qualcomm were worth $41,221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of QCOM. ABS Investment Management LLC acquired a new position in Qualcomm in the second quarter valued at $34,000. ABS Direct Equity Fund LLC purchased a new position in shares of Qualcomm during the second quarter worth about $34,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Qualcomm during the third quarter worth about $35,000. Team Financial Group LLC acquired a new stake in shares of Qualcomm during the third quarter worth about $38,000. Finally, Burk Holdings LLC increased its position in shares of Qualcomm by 191.7% during 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 in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm Price Performance

Qualcomm stock opened at $173.53 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. The business has a 50 day simple moving average of $178.31 and a 200-day simple moving average of $169.68. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The stock has a market capitalization of $185.68 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.71 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. Qualcomm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $3.00 EPS. Equities analysts predict that Qualcomm Incorporated will post 7.15 earnings per share for the current year.

Qualcomm Announces Dividend

The company also recently announced 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. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is 28.98%.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue reportedly reached a record $1.99 billion, up 89%, and Qualcomm expects non-handset revenue to grow more than 60% in fiscal 2027. Those businesses could help offset softness in smartphones. Article
• Positive Sentiment: ETFs recorded $28.3 million in net QCOM purchases on Nov. 5, with more funds adding shares than trimming them—one indication of institutional demand. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan and retained 39,379 shares, making the transaction a less direct signal about her view of the company. SEC filing
• Negative Sentiment: Freedom Broker downgraded Qualcomm from Buy to Hold and cut its price target to $185 from $200, citing expectations that investment in newer growth businesses will pressure margins longer than anticipated. Article
• Negative Sentiment: Handset revenue reportedly fell 26%, while earnings guidance was below expectations, renewing concerns about the company’s dependence on its smartphone-chip business. Article

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 208 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $35,360.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at $35,513,600. This represents a 5.33% decrease in their ownership of the stock. 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 three months, insiders have sold 32,520 shares of company stock worth $6,101,411. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QCOM shares. Citigroup decreased their target price on Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Susquehanna dropped their price target on Qualcomm from $185.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Sanford C. Bernstein cut their price target on Qualcomm from $165.00 to $155.00 and set a “market perform” rating on the stock in a research report on Monday, November 2nd. Rosenblatt Securities reduced their price objective on Qualcomm from $235.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Qualcomm in a research note on Thursday, November 5th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $197.13.

Qualcomm 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.