Matrix Asset Advisors Inc. NY Sells 43,347 Shares of Qualcomm Incorporated $QCOM

Matrix Asset Advisors Inc. NY trimmed its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 15.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 243,892 shares of the wireless technology company’s stock after selling 43,347 shares during the period. Qualcomm comprises about 3.7% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 5th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Qualcomm were worth $45,069,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares in the company, valued at approximately $3,376,869.84. This represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 shares were 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. Over the last three months, insiders sold 11,529 shares of company stock worth $1,991,345. Corporate insiders own 0.05% of the company’s stock.

Qualcomm Stock Up 0.6%

Shares of Qualcomm stock opened at $165.79 on Friday. The firm has a market cap of $174.12 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 15.25 and a beta of 1.65. The stock has a 50-day simple moving average of $182.72 and a 200-day simple moving average of $167.72. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. 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 (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities research analysts expect that Qualcomm Incorporated will post 7.76 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio (DPR) is currently 42.59%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Qualcomm from $250.00 to $160.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Oppenheimer set a $200.00 target price on shares of Qualcomm in a research note on Monday, July 27th. Argus set a $220.00 target price on Qualcomm in a report on Friday, May 1st. Craig Hallum cut Qualcomm from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Tigress Financial lifted their price target on Qualcomm from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently 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.