Qualcomm Incorporated $QCOM Stock Bought by Integrity Alliance LLC.

Integrity Alliance LLC. grew its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 34.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,595 shares of the wireless technology company’s stock after buying an additional 2,976 shares during the period. Integrity Alliance LLC.’s holdings in Qualcomm were worth $2,134,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Qualcomm

In related news, EVP Akash Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $182.85, for a total transaction of $457,125.00. Following the transaction, the executive vice president directly owned 18,184 shares of the company’s stock, valued at approximately $3,324,944.40. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the sale, the chief accounting officer owned 208 shares of the company’s stock, valued at $33,872.80. This trade represents a 75.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 30,258 shares of company stock valued at $5,727,616. 0.05% of the stock is currently owned by insiders.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: SpaceX selected Qualcomm’s Dragonwing platforms for Starlink Mobile’s U.S. terrestrial 5G network under a multiyear agreement. Qualcomm called it its largest 5G initiative to date, creating an opportunity to expand beyond phones. SpaceX deal
• Positive Sentiment: Fiscal Q4 adjusted EPS of $2.17 slightly exceeded the $2.16 consensus, while revenue also topped estimates. Q4 results
• Negative Sentiment: Investors reacted to muted earnings guidance, with a memory shortage weighing on smartphone sales. Handset revenue dropped 26%, dragging down overall results; total revenue fell about 8% year over year and EPS declined from $3.00 a year earlier. Earnings outlook and handset weakness
• Negative Sentiment: Automotive revenue grew 90%, but the business remains too small to offset the handset slowdown, leaving near-term growth and profitability under pressure. Phone chip sales analysis

Analyst Ratings Changes

QCOM has been the topic of several research analyst reports. Zacks Research lowered shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Qualcomm in a report on Thursday. Benchmark reduced their target price on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a report on Monday, July 27th. Piper Sandler began coverage on shares of Qualcomm in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $190.00 price target on the stock. Finally, Citigroup lowered 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. 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.48.

Qualcomm Stock Performance

Shares of NASDAQ QCOM opened at $173.19 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock’s fifty day moving average price is $178.23 and its two-hundred day moving average price is $169.48. 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 $184.94 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 3.70 and a beta of 1.70.

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, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same quarter last year, the business earned $3.00 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts forecast that Qualcomm Incorporated will post 7.71 EPS for the current year.

Qualcomm Dividend Announcement

The firm also recently declared 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 is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio is 42.59%.

About Qualcomm

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.