Qualcomm Incorporated $QCOM Stock: Fifth Third Bancorp Reduces Position

Fifth Third Bancorp cut its position in Qualcomm Incorporated (NASDAQ:QCOM) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,491 shares of the wireless technology company’s stock after selling 8,293 shares during the period. Fifth Third Bancorp’s holdings in Qualcomm were worth $91,006,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. ABS Investment Management LLC acquired a new stake in shares of Qualcomm during the second quarter worth about $34,000. ABS Direct Equity Fund LLC acquired a new position in Qualcomm in the 2nd quarter worth approximately $34,000. Mizuho Securities Co. Ltd. acquired a new position in Qualcomm in the 3rd quarter worth approximately $35,000. Team Financial Group LLC acquired a new position in Qualcomm in the 3rd quarter worth approximately $38,000. Finally, Burk Holdings LLC raised its position in Qualcomm by 191.7% during the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after buying an additional 138 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Latest Qualcomm News

These are some of the QCOM news items that stood out recently:

• Positive Sentiment: CEO Cristiano Amon defended Qualcomm’s data-center opportunity, expressing confidence in targets of $5 billion in fiscal 2027 sales and $15 billion by fiscal 2029. If achieved, the business could diversify revenue beyond smartphones. Qualcomm CEO on data-center goal
• Neutral Sentiment: The SpaceX opportunity faces execution and competitive hurdles: one analysis warns that building a challenger to major mobile carriers could be difficult, and a possible Boost Mobile acquisition remains speculative. SpaceX deal and carrier challenges
• Negative Sentiment: Analyst coverage remains cautious: Bank of America maintained an underperform rating, while other reports point to falling earnings estimates and margin risks. A comparison also favored Silicon Motion on performance, estimates and valuation. Bank of America remains cautious

Qualcomm Stock Up 0.3%

Qualcomm stock opened at $177.14 on Friday. The firm has a market cap of $189.54 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.70. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The business’s 50-day moving average price is $178.65 and its 200 day moving average price is $169.90. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results 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. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The company had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. During the same period last year, the business earned $3.00 earnings per share. Qualcomm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Qualcomm Incorporated will post 6.75 earnings per share for the current year.

Qualcomm Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio (DPR) is presently 28.98%.

Insider Activity

In related news, EVP Heather Ace sold 3,200 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $165.42, for a total value of $529,344.00. Following the completion of the transaction, the executive vice president directly owned 39,379 shares in the company, valued at $6,514,074.18. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,827 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president owned 25,770 shares of the company’s stock, valued at approximately $4,503,307.50. This represents a 6.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,520 shares of company stock worth $6,101,411. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCOM. Sanford C. Bernstein decreased their price objective on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating for the company in a research note on Monday, November 2nd. Zacks Research lowered shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Freedom Broker lowered shares of Qualcomm from a “buy” rating to a “hold” rating and cut their price objective for the stock from $200.00 to $185.00 in a research note on Monday. Barclays reduced their target price on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating for the company in a report on Thursday, November 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $197.13.

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.