Crossmark Global Holdings Increases Stake in QUALCOMM Incorporated

Crossmark Global Holdings Inc. has increased its investment in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.6% in the third quarter, as reported in their latest filing with the Securities and Exchange Commission. After acquiring an additional 38,667 shares during this period, their total ownership now stands at 345,244 shares of the wireless technology firm. This investment reflects approximately 1.0% of Crossmark Global Holdings' overall portfolio, ranking QUALCOMM as their 8th largest holding. As per the most recent disclosures, Crossmark Global Holdings' investment in QUALCOMM is valued at about $58.71 million.

Additional Institutional Investments

Other institutional investors have also been active in trading QUALCOMM shares. Pine Haven Investment Counsel Inc. increased its stake by 2.5% in the second quarter, bringing its ownership to 2,059 shares valued at $410,000 after a purchase of 50 shares. Likewise, Buffington Mohr McNeal raised its position by 3.9%, ending up with 1,401 shares worth $279,000 after acquiring an additional 53 shares. TRUE Private Wealth Advisors saw a 2.2% increase in its stakes, now holding 2,638 shares valued at approximately $525,000. In a significant move, Macroview Investment Management LLC increased its stake by 10.5%, holding a total of 600 shares valued at $119,000 after an additional purchase of 57 shares. Similarly, McClarren Financial Advisors Inc. raised its holding by 43.2%, now owning 199 shares worth $40,000 after purchasing 60 more. Overall, institutional investors and hedge funds possess about 74.35% of QUALCOMM's shares.

Current Trading Performance

On Friday, QUALCOMM's stock experienced a decline of 1.2%, trading at $170.91, with a trading volume of 10,736,646 shares compared to its average of 9,039,770 shares. The company's 50-day moving average price is recorded at $168.53, while its 200-day moving average price stands at $182.15. QUALCOMM has a current market capitalization of $190.39 billion, boasting a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76, and a beta of 1.28. Furthermore, the company has a current ratio of 2.39, a quick ratio of 1.78, and a debt-to-equity ratio of 0.53. The stock has seen a yearly trading range, with a low of $119.85 and a high of $230.63.

Earnings Report and Dividend Announcement

QUALCOMM released its quarterly earnings report on November 6th, revealing earnings per share (EPS) of $2.26, surpassing the consensus estimate of $2.01 by $0.25. The company's quarterly revenue totaled $10.24 billion, exceeding the forecasted $9.90 billion. With a net margin of 26.03% and a return on equity of 39.70%, analysts anticipate QUALCOMM will report an EPS of 8.62 for the current year. Additionally, a quarterly dividend of $0.85 has been announced, scheduled for payment on December 19th. Shareholders on record as of December 5th will receive this dividend, indicating an annual payout of $3.40 and a yield of 1.99%. The ex-dividend date is set for December 5th, with the dividend payout ratio currently at 37.82%.

Analyst Ratings and Insider Activity

Equities analysts have recently provided input on QUALCOMM's stock performance. StockNews.com downgraded QUALCOMM's rating from "strong-buy" to "buy" in an October report, while KeyCorp adjusted its rating from "overweight" to "sector weight" earlier this month. Wolfe Research lowered its rating from "outperform" to "peer perform" in August, with HSBC Global Research downgrading it from a "strong-buy" to a "hold" three months prior. Citigroup has also slightly decreased QUALCOMM's price target from $200.00 to $185.00 while maintaining a "neutral" rating. The current consensus sees one analyst suggesting a sell, eleven holding, and fifteen rating it buy, with an average price target of $212.16.

In terms of insider trading, Chief Technology Officer James H. Thompson sold 8,000 shares at an average price of $169.80, totaling around $1.36 million. Following this transaction, he holds 213,364 shares valued at roughly $36.23 million. In parallel, CFO Akash J. Palkhiwala sold 3,000 shares at an average price of $165.95, amassing about $497,850. Both transactions were duly filed with the Securities and Exchange Commission. In total, company insiders sold shares worth approximately $2.71 million in the last 90 days, and insiders own about 0.08% of the stock.

About QUALCOMM Incorporated

QUALCOMM Incorporated is focused on the development and commercialization of key technologies within the wireless industry globally. The company operates across three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). QCT mainly develops integrated circuits and system software for various applications, including wireless communications, networking, and multimedia, making it central to QUALCOMM's innovation strategies.

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