Arax Advisory Partners Sells 24,420 Shares of Qualcomm Incorporated $QCOM

Arax Advisory Partners cut its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 66.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,418 shares of the wireless technology company’s stock after selling 24,420 shares during the period. Arax Advisory Partners’ holdings in Qualcomm were worth $2,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. increased its position in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 80 shares during the last quarter. Torren Management LLC bought a new position in shares of Qualcomm in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 170 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Qualcomm by 113.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of Qualcomm in the fourth quarter worth approximately $32,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. Melius Research set a $220.00 price objective on shares of Qualcomm in a research report on Monday, May 18th. Rosenblatt Securities restated a “buy” rating and issued a $190.00 price objective on shares of Qualcomm in a research report on Thursday, April 30th. DZ Bank cut shares of Qualcomm from a “buy” rating to a “hold” rating and set a $195.00 price objective on the stock. in a research report on Friday, May 8th. Benchmark upped their price objective on shares of Qualcomm from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Daiwa Securities Group upgraded shares of Qualcomm from a “neutral” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research report on Friday, May 8th. Fifteen analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $184.29.

Insider Buying and Selling

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $197.35, for a total transaction of $493,375.00. Following the completion of the sale, the executive vice president owned 25,684 shares of the company’s stock, valued at approximately $5,068,737.40. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $180.00, for a total value of $1,800,000.00. Following the sale, the chief executive officer directly owned 197,568 shares of the company’s stock, valued at approximately $35,562,240. This trade represents a 4.82% decrease in their position. 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 three months, insiders sold 21,806 shares of company stock worth $3,928,958. 0.05% of the stock is owned by company insiders.

Qualcomm Stock Up 4.3%

Shares of NASDAQ QCOM opened at $220.81 on Tuesday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The firm’s 50 day simple moving average is $186.31 and its two-hundred day simple moving average is $165.26. The stock has a market capitalization of $232.73 billion, a P/E ratio of 24.00, a PEG ratio of 26.19 and a beta of 1.59.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, analysts expect that Qualcomm Incorporated will post 8 EPS for the current fiscal year.

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Qualcomm’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, June 4th. Qualcomm’s payout ratio is currently 40.00%.

Qualcomm announced that its board has authorized a share repurchase plan on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.