3,229 Qualcomm Incorporated $QCOM Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 18.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,685 shares of the wireless technology company’s stock after acquiring an additional 3,229 shares during the quarter. International Assets Investment Management LLC’s holdings in Qualcomm were worth $3,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. ABS Investment Management LLC acquired a new position in shares of Qualcomm during the 2nd quarter valued at about $34,000. ABS Direct Equity Fund LLC acquired a new stake in Qualcomm in the 2nd quarter worth approximately $34,000. Team Financial Group LLC acquired a new stake in Qualcomm in the 3rd quarter worth approximately $38,000. Burk Holdings LLC boosted its position in Qualcomm by 191.7% during 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 Qualcomm during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

More Qualcomm News

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

Qualcomm Stock Performance

Shares of NASDAQ QCOM opened at $165.41 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $178.11 and its two-hundred day moving average is $169.52. The company has a market cap of $176.99 billion, a P/E ratio of 13.02, a P/E/G ratio of 3.73 and a beta of 1.70. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. Qualcomm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.00 earnings per share. On average, equities analysts expect that Qualcomm Incorporated will post 7.16 EPS for the current year.

Qualcomm Announces Dividend

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 dividend of $0.92 per share. 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 is presently 28.98%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QCOM shares. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Citigroup decreased their price objective 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. Morgan Stanley lowered their target price on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. HSBC reiterated a “hold” rating on shares of Qualcomm in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Qualcomm from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $197.55.

Insider Activity at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total transaction of $437,650.00. Following the transaction, the executive vice president owned 20,799 shares in the company, valued at approximately $3,641,072.94. The trade was a 10.73% 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, CAO Patricia Y. Grech sold 208 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $35,360.00. 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 sold 31,820 shares of company stock valued at $5,980,217 in the last quarter. Company insiders own 0.05% of the company’s stock.

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.