Qualcomm Incorporated $QCOM Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,768 shares of the wireless technology company’s stock after purchasing an additional 7,785 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Qualcomm were worth $11,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ritholtz Wealth Management boosted its position in shares of Qualcomm by 3.6% during the 3rd quarter. Ritholtz Wealth Management now owns 24,586 shares of the wireless technology company’s stock worth $4,525,000 after purchasing an additional 860 shares during the period. UNIVEST FINANCIAL Corp raised its position in Qualcomm by 18.1% in the third quarter. UNIVEST FINANCIAL Corp now owns 2,214 shares of the wireless technology company’s stock valued at $407,000 after purchasing an additional 340 shares during the period. Joel Isaacson & Co. LLC lifted its stake in Qualcomm by 1.4% during the third quarter. Joel Isaacson & Co. LLC now owns 7,380 shares of the wireless technology company’s stock worth $1,358,000 after purchasing an additional 100 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in Qualcomm by 1,650.5% during the third quarter. Jefferies Financial Group Inc. now owns 319,824 shares of the wireless technology company’s stock worth $58,860,000 after purchasing an additional 301,554 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its stake in Qualcomm by 40.1% during the third quarter. First Command Advisory Services Inc. now owns 1,712 shares of the wireless technology company’s stock worth $315,000 after purchasing an additional 490 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Qualcomm

Here are a few of the latest headlines about QCOM:

• Positive Sentiment: A new Linux-based AI desktop operating system developed with Kora Systems is being tuned for Snapdragon PCs. The partnership supports Qualcomm’s effort to expand AI workloads beyond smartphones, though commercial impact is not yet clear. Article
• Neutral Sentiment: Qualcomm is pursuing AI data-center opportunities that could represent as much as $50 billion in market potential. Bank of America acknowledged the ambitions but maintained an “underperform” rating, reflecting uncertainty about the company’s ability to turn the opportunity into results. Article
• Negative Sentiment: Qualcomm’s handset business remains a concern as it shrinks, leaving investors to assess whether automotive and other newer businesses can offset pressure in the company’s core market. Article

Qualcomm Price Performance

Qualcomm stock opened at $176.57 on Thursday. The firm has a market cap of $188.93 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.92 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 company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $178.51 and its two-hundred day moving average is $169.78.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS 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 net margin of 31.60% and a return on equity of 30.62%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 EPS. On average, research analysts expect that Qualcomm Incorporated will post 7.15 EPS for the current fiscal year.

Qualcomm Announces Dividend

The business 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 $0.92 dividend. 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 (DPR) is presently 28.98%.

Insider Transactions at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 625 shares of the company’s 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 sale, the chief accounting officer owned 208 shares in the company, valued at $33,872.80. This represents a 75.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann C. Chaplin sold 1,827 shares of the stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $174.75, for a total value of $319,268.25. Following the completion of the sale, the executive vice president directly owned 25,770 shares in the company, valued at $4,503,307.50. This represents a 6.62% decrease in their position. 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 a total of 32,520 shares of company stock valued at $6,101,411 in the last 90 days. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Royal Bank Of Canada increased their target price on Qualcomm from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 9th. Weiss Ratings raised Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Susquehanna lowered their target price on Qualcomm from $185.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Zacks Research downgraded Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Qualcomm currently has a consensus rating of “Hold” and a consensus price target of $197.13.

Qualcomm Company 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.