13,647 Qualcomm Incorporated $QCOM Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lowered its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 44.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,955 shares of the wireless technology company’s stock after selling 13,647 shares during the quarter. Kestra Investment Management LLC’s holdings in Qualcomm were worth $3,120,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in QCOM. BlackRock Inc. purchased a new position in shares of Qualcomm in the 2nd quarter valued at about $17,583,115,000. State Street Corp lifted its stake in shares of Qualcomm by 1.3% in the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock valued at $9,750,123,000 after purchasing an additional 671,537 shares during the period. Van ECK Associates Corp lifted its stake in shares of Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after purchasing an additional 3,179,720 shares during the period. Amundi boosted its holdings in Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after buying an additional 4,942,908 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Qualcomm during the second quarter worth about $1,523,930,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. HSBC reaffirmed a “hold” rating on shares of Qualcomm in a report on Wednesday, July 15th. Freedom Broker lowered Qualcomm from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $185.00 in a research note on Monday. Zacks Research cut Qualcomm from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. TD Cowen dropped their price objective on Qualcomm from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Finally, Robert W. Baird set a $320.00 price objective on Qualcomm in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $197.13.

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

Insider Transactions at Qualcomm

In other news, EVP Ann C. Chaplin sold 1,501 shares of the business’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $161.54, for a total value of $242,471.54. Following the completion of the transaction, the executive vice president directly owned 27,271 shares of the company’s stock, valued at $4,405,357.34. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $165.42, for a total value of $529,344.00. Following the completion of the transaction, the executive vice president directly owned 39,379 shares of the company’s stock, valued at approximately $6,514,074.18. This trade represents a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,020 shares of company stock worth $6,509,561 in the last quarter. Insiders own 0.05% of the company’s stock.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $171.47 on Tuesday. 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 capitalization of $183.10 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70. The firm has a 50-day moving average price of $178.25 and a two-hundred day moving average price of $169.60. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 31.91%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 earnings per share. As a group, research analysts expect that Qualcomm Incorporated will post 7.16 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, December 17th. Investors of record on Thursday, December 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. Qualcomm’s dividend payout ratio is presently 28.98%.

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.