Kingsview Wealth Management LLC has increased its investment in QUALCOMM Incorporated (NASDAQ: QCOM) by 1.4% during the second quarter of 2023. The firm now holds 36,662 shares of the wireless technology company, following the acquisition of an additional 521 shares during this period. As of its latest report to the Securities and Exchange Commission, Kingsview’s holdings in QUALCOMM are valued at approximately $5.84 million.
Several other institutional investors have also adjusted their positions in QUALCOMM. Notably, Vermillion & White Wealth Management Group LLC raised its stake by an impressive 122.4% in the first quarter, bringing its total to 169 shares worth around $26,000 after purchasing an additional 93 shares. Similarly, Chung Wu Investment Group LLC acquired a new stake valued at $32,000 during the second quarter, while Harbor Asset Planning Inc. also purchased shares worth $32,000 in the same timeframe.
Atticus Wealth Management LLC reported a staggering 21,200.0% increase in its holdings, bringing its total to 213 shares valued at approximately $34,000 after acquiring 212 shares. Moreover, CBIZ Investment Advisory Services LLC increased its stake by 44.6% in the first quarter, now owning 256 shares worth $39,000. Institutional investors collectively own about 74.35% of QUALCOMM’s stock.
Insider transactions have also been notable. On August 21, 2023, Chief Accounting Officer Neil Martin sold 791 shares at an average price of $154.82, totaling $122,462.62. This sale reduced his holdings by 41.7%, leaving him with 1,106 shares valued at approximately $171,230.92. Additionally, Chief Financial Officer Akash J. Palkhiwala sold 3,333 shares on November 7, 2023, for a total of $567,709.89, decreasing his ownership by 9.12% to 33,208 shares valued at around $5.66 million. In total, corporate insiders sold 168,305 shares worth $27.86 million in the last quarter, with insiders holding only 0.08% of the company’s stock.
Analysts are closely monitoring QUALCOMM’s performance. The company’s stock opened at $173.98 on Monday. QUALCOMM’s financial metrics indicate a solid position, with a debt-to-equity ratio of 0.54, a current ratio of 3.19, and a quick ratio of 2.38. Over the past year, the stock has fluctuated between a low of $120.80 and a high of $205.95, with a market capitalization of $186.33 billion.
In its most recent earnings report, released on November 5, 2023, QUALCOMM reported earnings per share (EPS) of $3.00, surpassing analysts’ expectations of $2.87 by $0.13. The company generated revenue of $11.27 billion, exceeding analyst estimates of $10.74 billion. This represents a year-over-year revenue increase of 10.0%, up from $2.69 EPS during the same quarter last year. For the first quarter of 2026, QUALCOMM has projected EPS guidance of $3.30 to $3.50.
Additionally, QUALCOMM has announced a quarterly dividend of $0.89 per share, scheduled for payment on December 18, 2023. Shareholders of record on December 4, 2023, will be eligible for this dividend, which translates to an annualized dividend yield of 2.0% and a total payout of $3.56 per share. The company’s dividend payout ratio currently stands at 72.80%.
QUALCOMM Incorporated continues to play a pivotal role in the wireless technology sector, engaging in the development and commercialization of foundational technologies. The company operates through three main segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment focuses on the development of integrated circuits and system software for various communication technologies, positioning QUALCOMM as a leader in the industry.
