DAVENPORT & Co LLC Cuts Stake in QUALCOMM Incorporated $QCOM

DAVENPORT & Co LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,543 shares of the wireless technology company’s stock after selling 3,815 shares during the quarter. DAVENPORT & Co LLC’s holdings in QUALCOMM were worth $10,756,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QCOM. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. PFG Advisors grew its position in shares of QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock worth $663,000 after buying an additional 321 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock worth $28,979,000 after buying an additional 6,017 shares during the period. Russell Investments Group Ltd. raised its holdings in QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock valued at $203,904,000 after acquiring an additional 145,509 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in QUALCOMM by 0.5% in the first quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company’s stock worth $3,713,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $168.62 on Tuesday. The stock’s 50-day moving average is $159.66 and its two-hundred day moving average is $153.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a market cap of $181.94 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 2.47 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Mizuho dropped their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Arete Research set a $200.00 price target on QUALCOMM in a research note on Tuesday, August 26th. Bank of America lowered their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Finally, Piper Sandler dropped their price objective on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.82.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. This trade represents a 50.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company’s stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,767 shares of company stock worth $26,322,745. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.