StoneX Group Inc. Buys 4,413 Shares of Qualcomm Incorporated $QCOM

StoneX Group Inc. raised its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 25.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,538 shares of the wireless technology company’s stock after buying an additional 4,413 shares during the period. StoneX Group Inc.’s holdings in Qualcomm were worth $3,888,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in QCOM. Parallel Advisors LLC increased its position in shares of Qualcomm by 2.2% during the third quarter. Parallel Advisors LLC now owns 20,099 shares of the wireless technology company’s stock worth $3,699,000 after acquiring an additional 436 shares during the period. Guidance Capital Inc. raised its stake in shares of Qualcomm by 0.9% during the third quarter. Guidance Capital Inc. now owns 8,180 shares of the wireless technology company’s stock valued at $1,505,000 after acquiring an additional 72 shares in the last quarter. Tamar Securities LLC boosted its holdings in shares of Qualcomm by 3.3% in the third quarter. Tamar Securities LLC now owns 153,879 shares of the wireless technology company’s stock valued at $28,320,000 after purchasing an additional 4,953 shares during the period. Asset Dedication LLC boosted its holdings in shares of Qualcomm by 109.1% in the third quarter. Asset Dedication LLC now owns 8,341 shares of the wireless technology company’s stock valued at $1,535,000 after purchasing an additional 4,352 shares during the period. Finally, Plancorp LLC boosted its holdings in shares of Qualcomm by 12.4% in the third quarter. Plancorp LLC now owns 10,805 shares of the wireless technology company’s stock valued at $1,989,000 after purchasing an additional 1,188 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on QCOM shares. JPMorgan Chase & Co. reduced their price objective on Qualcomm from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler reiterated a “neutral” rating on shares of Qualcomm in a report on Thursday. Zacks Research cut Qualcomm from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Citigroup dropped their price target on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Arete Research upgraded Qualcomm to a “strong-buy” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Qualcomm currently has an average rating of “Hold” and a consensus target price of $197.55.

Qualcomm Trading Up 5.5%

NASDAQ:QCOM opened at $165.41 on Friday. The firm has a 50-day simple moving average of $178.11 and a 200-day simple moving average of $169.52. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The firm 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. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.28 and a current ratio of 1.86.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The firm 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 30.62%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. Equities analysts anticipate that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. Qualcomm’s dividend payout ratio 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 Buying and Selling

In other news, CEO Cristiano R. Amon sold 10,000 shares of the business’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares of the company’s stock, valued at approximately $35,513,600. The trade was a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $175.06, for a total value of $437,650.00. Following the sale, the executive vice president owned 20,799 shares of the company’s stock, valued at $3,641,072.94. This trade represents a 10.73% 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 sold a total of 31,820 shares of company stock worth $5,980,217 over the last quarter. 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.