Penn Davis Mcfarland 13F: Cuts QUALCOMM (QCOM) Stake by $536K

Penn Davis Mcfarland trimmed its stake in QUALCOMM Incorporated QCOM by 2,915 shares, ending the period with 184,385 shares. According to a Form 13F filed with the U.S. Securities and Exchange Commission on October 23, 2026, the reduction represented a 1.56% decrease from the previous quarter. The remaining holding carried a reported value of $33,934,215.00.

QCOM QUALCOMM Incorporated

$175.48 ▲ +3.03% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Penn Davis Mcfarland's QUALCOMM Incorporated Position

The fund held 187,300 shares of the semiconductor company before the trade and finished with 184,385 shares. The adjustment reflects a modest trim in portfolio exposure while keeping a substantial position in the chip designer.

Other Institutional Activity in QUALCOMM Incorporated

Other institutional investors adjusted their positions in the wireless technology developer during the same period. Kmg Fiduciary Partners reduced its holdings by 5,910 shares, ending with 76,463 shares worth about $14,072,341.00. Assenagon Asset Management S.A. grew its stake dramatically, adding 6,731,001 shares to finish with 6,822,682 shares valued at $1,255,646,395.00. Fifth Third Wealth Advisors lifted its holdings by 4,602 shares, ending with 40,688 shares worth about $7,488,211.00. BSN CAPITAL PARTNERS sold out its entire position, unloading all 157,270 shares to leave its holdings at zero. Verity & Verity boosted its stake by 58,821 shares, bringing its total to 135,545 shares valued at roughly $24,945,702.00.

QUALCOMM Incorporated Stock Down 1.1%

QUALCOMM Incorporated shares recently traded around $175.97 as of October 24, 2026, remaining close to the $175.91 closing price recorded on the filing date of October 23, 2026. The stock trades above its 200-day moving average of $169.35 while sitting below its 52-week high of $259.92.

Recent Earnings

QUALCOMM Incorporated posted trailing twelve month revenue of $44.07 billion and earnings of $8.64 per share. The business achieved a net profit margin of 21.0% and a return on equity of 33.8%. The company's next earnings report is scheduled for November 4, 2026.

Dividend

The company pays an annual dividend of $3.68 per share, which yields 2.13% based on recent share prices. The payout ratio stands at 41.5% of earnings.

Insider Buying and Selling at QUALCOMM Incorporated

Chief Executive Officer Cristiano Renno Amon sold 10,000 shares on September 21, 2026, at an average price of $195.00 for a total value of $1,950,000.00. EVP and General Counsel Ann C Chaplin sold 1,827 shares on October 16, 2026, at $174.75 per share under a planned trading program, totaling $319,268.25. EVP, CFO and COO Akash J. Palkhiwala sold 2,500 shares on October 20, 2026, at an average price of $175.06 for a total of $437,646.50 under a planned schedule.

Analysts Set New Price Targets

RBC Capital maintained a sector perform rating while raising its price target to $180.00 from $160.00 on September 9, 2026. Rosenblatt maintained a buy rating with a $235.00 price target on September 9, 2026. Piper Sandler initiated coverage with a neutral rating and a $190.00 price target on September 10, 2026. TD Cowen maintained a buy rating and raised its price target to $200.00 from $175.00 on October 19, 2026. Susquehanna maintained a neutral rating and raised its price target to $185.00 from $160.00 on October 21, 2026. The stock holds a consensus hold rating with a mean price target of $195.80 across 30 analyst opinions.

About QUALCOMM Incorporated

Headquartered in San Diego, California, QUALCOMM Incorporated designs and licenses foundational technologies for the global wireless industry. The enterprise operates through divisions that develop integrated circuits for mobile devices, license wireless patent portfolios, and invest in early-stage tech ventures.

Bottom Line

Investors continue to monitor institutional adjustments alongside upcoming earnings results expected on November 4, 2026. Watch for further filings to track how major holders position themselves ahead of the report.