Asset Dedication LLC Purchases 4,352 Shares of Qualcomm Incorporated $QCOM

Asset Dedication LLC increased its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 109.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,341 shares of the wireless technology company’s stock after purchasing an additional 4,352 shares during the period. Asset Dedication LLC’s holdings in Qualcomm were worth $1,535,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QCOM. ABS Investment Management LLC purchased a new stake in shares of Qualcomm in the second quarter worth $34,000. ABS Direct Equity Fund LLC bought a new stake in Qualcomm during the second quarter worth approximately $34,000. Team Financial Group LLC acquired a new position in shares of Qualcomm during the third quarter worth approximately $38,000. Burk Holdings LLC raised its holdings in Qualcomm by 191.7% in 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 during the period. Finally, Harborfront Financial Group LLC bought a new stake in shares of Qualcomm in the second quarter valued at approximately $41,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on QCOM. TD Cowen reduced their price objective on Qualcomm from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler reissued a “neutral” rating on shares of Qualcomm in a report on Thursday. Citigroup cut their price target on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Benchmark lowered their target price on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Finally, Wells Fargo & Company cut their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Qualcomm currently has an average rating of “Hold” and an average target price of $197.55.

Qualcomm Stock Performance

Shares of QCOM opened at $165.41 on Friday. The stock has a market capitalization of $176.63 billion, a P/E ratio of 13.02, a P/E/G ratio of 3.65 and a beta of 1.70. 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 firm’s 50 day moving average is $178.11 and its 200-day moving average is $169.52.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.00 EPS. Equities research analysts anticipate that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is currently 28.98%.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Insider Transactions at Qualcomm

In related news, EVP Ann C. Chaplin sold 1,827 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the sale, the executive vice president owned 25,770 shares of the company’s stock, valued at $4,503,307.50. This trade represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $182.85, for a total value of $457,125.00. Following the completion of the transaction, the executive vice president owned 18,184 shares in the company, valued at approximately $3,324,944.40. The trade was a 12.09% decrease in their position. 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. Insiders sold 31,820 shares of company stock valued at $5,980,217 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

About Qualcomm

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.