Crossmark Global Holdings Increases Stake in QUALCOMM Incorporated

Crossmark Global Holdings Inc. has increased its investment in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.6% during the third quarter, according to a recent filing with the Securities and Exchange Commission. Following this adjustment, Crossmark now holds 345,244 shares of the wireless technology company after acquiring an additional 38,667 shares throughout the quarter. QUALCOMM represents about 1.0% of Crossmark's investment portfolio, placing it as the firm's eighth largest holding. As of the latest SEC filing, Crossmark's stake in QUALCOMM is valued at approximately $58.71 million.

Other Institutional Investor Activity

In addition to Crossmark, several other institutional investors have also modified their positions in QUALCOMM. For instance, Pine Haven Investment Counsel Inc. raised its stake by 2.5% in the second quarter, increasing its holdings to 2,059 shares, now valued at $410,000. Similarly, Buffington Mohr McNeal increased its shares by 3.9%, owning 1,401 shares worth $279,000 after an acquisition of 53 shares. TRUE Private Wealth Advisors added a 2.2% increase, now holding 2,638 shares valued at $525,000 after buying 57 shares. Meanwhile, Macroview Investment Management LLC increased its stake by 10.5%, bringing its total to 600 shares worth $119,000. Lastly, McClarren Financial Advisors raised its holdings significantly by 43.2%, owning 199 shares now valued at $40,000. Overall, about 74.35% of QUALCOMM's stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

During trading on Friday, QUALCOMM's stock saw a decrease of 1.2%, falling $2.00 to reach $170.91. Trading volume for the day was approximately 10,736,646 shares, surpassing its average of 9,039,770 shares. The company's 50-day moving average price stood at $168.53, while the 200-day moving average price was $182.15. QUALCOMM currently has a market capitalization of $190.39 billion with a price-to-earnings ratio of 19.01 and a price-to-earnings-growth ratio of 1.76. The company maintains a current ratio of 2.39 and a quick ratio of 1.78, alongside a debt-to-equity ratio of 0.53. The stock has experienced a 12-month low of $119.85 and a high of $230.63.

Recent Financial Results

QUALCOMM recently released its quarterly earnings results on November 6th, showcasing earnings per share of $2.26, outpacing analysts’ consensus estimate of $2.01 by $0.25. The firm's revenue for the quarter was reported at $10.24 billion, exceeding expectations of $9.90 billion. The company recorded a net margin of 26.03% and a return on equity of 39.70%. Analysts predict that QUALCOMM will achieve an earnings per share of 8.62 for the current fiscal year.

Dividend Announcement

QUALCOMM also declared a quarterly dividend of $0.85 per share, to be paid on December 19th to investors recorded on December 5th. This amounts to an annualized dividend of $3.40, reflecting a dividend yield of 1.99%. The ex-dividend date is marked for December 5th, and the current dividend payout ratio stands at 37.82%.

Analyst Ratings

Insider Trading Activity

In the context of insider transactions, CTO James H. Thompson sold 8,000 shares on October 1st at an average price of $169.80, totaling $1,358,400. Following this transaction, Thompson retains 213,364 shares valued at around $36.23 million. Additionally, CFO Akash J. Palkhiwala sold 3,000 shares on the same date at an average price of $165.95, amounting to $497,850. After this sale, he holds 51,437 shares valued at roughly $8.54 million. Over the past 90 days, a total of 16,146 shares have been sold by insiders at an estimated value of $2.71 million, indicating that insiders own about 0.08% of the company's stock.

About QUALCOMM Incorporated

QUALCOMM Incorporated specializes in developing and commercializing essential technologies for the wireless industry worldwide. 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 based on various technologies including 3G, 4G, and 5G for applications such as wireless communications, networking, and multimedia.

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