Crossmark Global Holdings Inc. 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 stated in its recent filing with the Securities and Exchange Commission. This institutional investor now holds 345,244 shares of QUALCOMM after acquiring an additional 38,667 shares during the quarter. QUALCOMM makes up about 1.0% of Crossmark Global Holdings Inc.'s total investment portfolio, positioning it as the firm’s 8th largest holding. As of its latest report, Crossmark Global Holdings Inc. valued its holdings in QUALCOMM at approximately $58,708,000.

Other Institutional Investments

A number of other institutional investors have also adjusted their positions in QUALCOMM. For instance, Pine Haven Investment Counsel Inc. boosted its holdings by 2.5% during the second quarter, now owning 2,059 shares valued at $410,000 after buying 50 more shares. Buffington Mohr McNeal increased its shares by 3.9%, now possessing 1,401 shares worth $279,000 after adding 53 shares. TRUE Private Wealth Advisors raised its stake by 2.2%, owning 2,638 shares valued at $525,000 after acquiring 57 shares. Macroview Investment Management LLC enhanced its stake by 10.5%, possessing 600 shares worth $119,000 following the purchase of an additional 57 shares. Also, McClarren Financial Advisors Inc. increased its investment by 43.2%, owning 199 shares valued at $40,000 after buying 60 additional shares. It is noteworthy that institutional investors and hedge funds collectively own about 74.35% of QUALCOMM’s stock.

Recent Stock Performance

The stock of QUALCOMM was down 1.2% recently, trading at $170.91 during midday market hours. The day's trading volume was around 10,736,646 shares, in contrast to its average of 9,039,770 shares. The company's 50-day moving average is $168.53, while its 200-day moving average stands at $182.15. QUALCOMM has a market capitalization of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76, and a beta value of 1.28. Its financial metrics feature a current ratio of 2.39, a quick ratio of 1.78, and a debt-to-equity ratio of 0.53. QUALCOMM's stock has seen a 12-month low of $119.85 and a high of $230.63.

Earnings Report Insights

QUALCOMM recently disclosed its quarterly earnings results, which showed strong performance. The company reported earnings of $2.26 per share, surpassing analysts' expectations of $2.01 by $0.25. The revenue for the quarter was $10.24 billion, exceeding the consensus estimate of $9.90 billion. QUALCOMM's net profit margin was recorded at 26.03%, and it achieved a return on equity of 39.70%. Forecasts by analysts suggest that QUALCOMM is likely to report an earnings per share (EPS) of 8.62 for the current year.

Dividend Information

The company has also declared a quarterly dividend to be paid on December 19. Shareholders on record as of December 5 will receive a $0.85 dividend, equating to an annual dividend of $3.40, giving a yield of 1.99%. The ex-dividend date is set for December 5, and QUALCOMM currently has a dividend payout ratio of 37.82%.

Analyst Ratings and Recommendations

Recent evaluations from analysts reveal various upgrades and downgrades for QUALCOMM stock. StockNews.com lowered their recommendation from “strong-buy” to “buy” in a report published on October 2. KeyCorp revised their rating from “overweight” to “sector weight” on October 8. Wolfe Research downgraded the stock from “outperform” to “peer perform” in an analysis on August 12. Additionally, HSBC Global Research moved its rating from “strong-buy” to “hold” in July. Citigroup also adjusted their price target from $200.00 to $185.00, with a “neutral” stance. As a result, one analyst has given a sell rating, eleven have issued hold recommendations, fifteen recommend buying, and one has set a strong buy rating, leading to an overall analysis projecting a “Moderate Buy” consensus with an average target price of $212.16.

Insider Transactions

In recent insider news, Chief Technology Officer James H. Thompson sold 8,000 shares on October 1 at around $169.80 per share, amounting to roughly $1,358,400. Following this transaction, Thompson holds 213,364 shares valued at about $36,229,207. This sale represented no percentage change in his ownership. Additionally, Chief Financial Officer Akash J. Palkhiwala sold 3,000 shares on the same day at an average price of $165.95, totaling about $497,850. After this sale, he owns 51,437 shares worth approximately $8,535,970, reflecting no change in ownership percentage. Over the past 90 days, insiders have sold a total of 16,146 shares, valued at $2,709,186. Overall, insiders own about 0.08% of QUALCOMM’s stock.

Company Overview

QUALCOMM Incorporated specializes in developing and commercializing core technologies for the wireless sector globally. The company operates through three main segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment is responsible for developing and supplying integrated circuits and system software utilized in various wireless communications technologies.

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