Qualcomm Incorporated $QCOM Stock Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 33.9% during the third quarter, Holdings Channel.com reports. The firm owned 23,773 shares of the wireless technology company’s stock after buying an additional 6,016 shares during the period. Confluence Wealth Services Inc.’s holdings in Qualcomm were worth $4,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ABS Investment Management LLC bought a new position in Qualcomm in the second quarter worth approximately $34,000. ABS Direct Equity Fund LLC purchased a new stake in Qualcomm during the second quarter worth $34,000. Mizuho Securities Co. Ltd. bought a new stake in Qualcomm during the 3rd quarter valued at $35,000. Team Financial Group LLC bought a new stake in Qualcomm during the 3rd quarter valued at $38,000. Finally, Burk Holdings LLC boosted 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 valued at $39,000 after acquiring an additional 138 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Heather Ace sold 3,200 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $165.42, for a total value of $529,344.00. Following the completion of the sale, the executive vice president owned 39,379 shares of the company’s stock, valued at $6,514,074.18. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash Palkhiwala sold 2,500 shares of the business’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 transaction, the executive vice president owned 20,799 shares in the company, valued at approximately $3,641,072.94. This trade represents a 10.73% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 32,520 shares of company stock worth $6,101,411. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. UBS Group cut their price target on Qualcomm from $185.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. The Goldman Sachs Group restated a “neutral” rating on shares of Qualcomm in a research note on Thursday, November 5th. Zacks Research downgraded Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Robert W. Baird set a $320.00 price objective on Qualcomm in a research report on Thursday, November 5th. Finally, Citigroup cut their target price on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $197.13.

Qualcomm Trading Up 1.2%

NASDAQ:QCOM opened at $173.53 on Wednesday. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The firm has a 50 day moving average of $178.31 and a 200 day moving average of $169.68. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $185.68 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.71 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The business had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Qualcomm Incorporated will post 7.15 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

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

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Automotive revenue reportedly reached a record $1.99 billion, up 89%, and Qualcomm expects non-handset revenue to grow more than 60% in fiscal 2027. Those businesses could help offset softness in smartphones. Article
• Positive Sentiment: ETFs recorded $28.3 million in net QCOM purchases on Nov. 5, with more funds adding shares than trimming them—one indication of institutional demand. Article
• Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan and retained 39,379 shares, making the transaction a less direct signal about her view of the company. SEC filing
• Negative Sentiment: Freedom Broker downgraded Qualcomm from Buy to Hold and cut its price target to $185 from $200, citing expectations that investment in newer growth businesses will pressure margins longer than anticipated. Article
• Negative Sentiment: Handset revenue reportedly fell 26%, while earnings guidance was below expectations, renewing concerns about the company’s dependence on its smartphone-chip business. Article

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.