Qualcomm Incorporated $QCOM Shares Sold by Eastern Bank

Eastern Bank trimmed its position in Qualcomm Incorporated (NASDAQ:QCOM) by 43.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,085 shares of the wireless technology company’s stock after selling 3,180 shares during the quarter. Eastern Bank’s holdings in Qualcomm were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Qualcomm by 24.7% in the first quarter. Pacer Advisors Inc. now owns 2,975,238 shares of the wireless technology company’s stock valued at $383,151,000 after buying an additional 589,717 shares during the last quarter. Southern Financial Group LLC increased its holdings in Qualcomm by 11.8% in the 1st quarter. Southern Financial Group LLC now owns 2,596 shares of the wireless technology company’s stock worth $334,000 after buying an additional 274 shares during the period. Pine Valley Investments Ltd Liability Co raised its position in Qualcomm by 2.3% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 29,713 shares of the wireless technology company’s stock worth $3,826,000 after buying an additional 665 shares during the last quarter. Chelsea Counsel Co. raised its position in Qualcomm by 12.0% during the 1st quarter. Chelsea Counsel Co. now owns 6,518 shares of the wireless technology company’s stock worth $839,000 after buying an additional 700 shares during the last quarter. Finally, CoreFirst Bank & Trust lifted its stake in Qualcomm by 17.3% during the 1st quarter. CoreFirst Bank & Trust now owns 712 shares of the wireless technology company’s stock valued at $92,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at Qualcomm

In other news, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president owned 36,535 shares of the company’s stock, valued at $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $211.90, for a total transaction of $529,750.00. Following the transaction, the executive vice president owned 28,184 shares of the company’s stock, valued at approximately $5,972,189.60. This trade represents a 8.15% decrease in their position. 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 11,529 shares of company stock valued at $2,112,945 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Qualcomm Stock Up 7.3%

Qualcomm stock opened at $162.67 on Wednesday. The stock has a market capitalization of $170.84 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 13.64 and a beta of 1.65. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The business has a 50 day simple moving average of $194.76 and a 200-day simple moving average of $167.49. 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 announced its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. During the same period in the previous year, the company earned $2.77 earnings per share. The company’s quarterly 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. On average, analysts anticipate that Qualcomm Incorporated will post 7.94 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given 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 yield of 2.3%. Qualcomm’s dividend payout ratio is currently 42.59%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Susquehanna dropped their price objective on shares of Qualcomm from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Citigroup reduced their target price 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. Mizuho boosted their target price on shares of Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, June 29th. Bank of America upped their price target on shares of Qualcomm from $165.00 to $195.00 and gave the company an “underperform” rating in a report on Tuesday, June 23rd. Finally, Zacks Research raised Qualcomm from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty-one have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Qualcomm has a consensus rating of “Hold” and an average target price 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.