Shares in QUALCOMM Incorporated (NASDAQ: QCOM) are liquidated by Integrated Advisors Network LLC

2 min read | October 30, 2024 09:39 PM AEDT | By Team Kalkine Media

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Shares in QUALCOMM Incorporated (NASDAQ: QCOM) are liquidated by Integrated Advisors Network LLC — Image source: Shutterstock

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Highlights

Integrated Advisors Network LLC reduced its stake in QUALCOMM Incorporated by 47.8%, holding 20,353 shares after selling 18,641 shares in Q3.

Institutional ownership remains strong, with various hedge funds adjusting their positions significantly in the wireless technology company.

QUALCOMM reported strong quarterly earnings, with a net margin of 23.32%, despite facing fluctuations in share price and analyst ratings.

QUALCOMM Incorporated (NASDAQ:QCOM) has seen a notable shift in institutional ownership, highlighted by Integrated Advisors Network LLC's decision to cut its position by 47.8% during the third quarter. As of its most recent SEC filing, Integrated Advisors now holds 20,353 shares, following the sale of 18,641 shares. This adjustment reflects broader trends among institutional investors, with several funds modifying their stakes in QUALCOMM.

Notably, Matrix Capital Management Company LP made headlines by acquiring a significant new position valued at over $1 billion in the first quarter. Meanwhile, Massachusetts Financial Services Co. experienced a dramatic increase in its stake, growing by nearly 1,800% in Q2. International Assets Investment Management LLC also reported an extraordinary increase of over 17,000% in Q3, underscoring the ongoing interest in QUALCOMM despite market fluctuations. Overall, institutional investors and hedge funds now own approximately 74.35% of the company’s stock.

QUALCOMM's recent quarterly earnings report showcased an earnings per share (EPS) of $1.93, surpassing analyst estimates, and revenue of $9.39 billion, indicating a robust operational performance. The company's net margin stood at 23.32%, reflecting strong profitability. Despite a complex valuation landscape and recent analyst rating changes, including downgrades and adjustments to price targets, QUALCOMM maintains a consensus rating of "Moderate Buy" with an average price target of approximately $207.92.

In addition to its financial performance, QUALCOMM announced a quarterly dividend of $0.85, set to be paid on December 19, further illustrating its commitment to returning value to shareholders. As the company navigates the competitive landscape of the wireless technology sector, its strategic adjustments and strong institutional support will be pivotal for future growth.

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