Qualcomm Incorporated $QCOM Shares Sold by Cannon Advisors Inc.

Cannon Advisors Inc. lowered its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 67.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,068 shares of the wireless technology company’s stock after selling 4,306 shares during the period. Cannon Advisors Inc.’s holdings in Qualcomm were worth $368,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Torren Management LLC acquired a new position in shares of Qualcomm in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after acquiring an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new stake in shares of Qualcomm during the 4th quarter valued at approximately $31,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of Qualcomm during the 4th quarter valued at approximately $32,000. Finally, Your Advocates Ltd. LLP acquired a new stake in shares of Qualcomm during the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the transaction, the executive vice president owned 20,684 shares in the company, valued at $3,376,869.84. This trade represents a 10.78% decrease in their position. The transaction 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, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,529 shares of company stock valued at $1,991,345 over the last three months. Insiders own 0.05% of the company’s stock.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $165.79 on Friday. The stock has a market cap of $174.12 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 15.25 and a beta of 1.65. 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 12 month low of $121.99 and a 12 month high of $259.92. The stock’s 50 day moving average price is $182.72 and its 200 day moving average price is $167.72.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. During the same period in the previous year, the company posted $2.77 earnings per share. Qualcomm’s revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities research analysts anticipate that Qualcomm Incorporated will post 7.76 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is currently 42.59%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. Morgan Stanley decreased their price objective on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Sanford C. Bernstein set a $165.00 target price on shares of Qualcomm in a report on Thursday, July 30th. BNP Paribas Exane downgraded shares of Qualcomm to a “neutral” rating in a research report on Wednesday, April 29th. Dbs Bank upgraded shares of Qualcomm to a “moderate buy” rating in a research report on Tuesday, July 7th. Finally, Citigroup decreased their price target on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $203.63.

About Qualcomm

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.