Allstate Corp Grows Stock Holdings in Qualcomm Incorporated $QCOM

Key Points

• Allstate Corp increased its Qualcomm stake by 108.1% in the fourth quarter, bringing its holdings to 80,950 shares worth about $13.85 million.
• Qualcomm recently reported quarterly earnings of $2.65 per share, topping estimates, while revenue came in essentially in line at $10.60 billion. The company also issued Q3 2026 guidance of $2.10 to $2.30 EPS.
• The board authorized a $20 billion share buyback and raised the quarterly dividend to $0.92 per share, up from $0.89, signaling continued capital returns to shareholders.

Allstate Corp raised its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 108.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,950 shares of the wireless technology company's stock after buying an additional 42,056 shares during the period. Allstate Corp's holdings in Qualcomm were worth $13,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Qualcomm in the third quarter valued at $27,000. Richardson Financial Services Inc. boosted its holdings in Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC purchased a new position in Qualcomm in the fourth quarter valued at $29,000. Glass Jacobson Investment Advisors llc boosted its holdings in Qualcomm by 113.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock valued at $32,000 after purchasing an additional 101 shares during the period. Finally, Board of the Pension Protection Fund purchased a new position in Qualcomm in the fourth quarter valued at $34,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Qualcomm Stock Performance

Shares of QCOM stock opened at $238.16 on Tuesday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $247.90. The stock's 50-day moving average price is $156.96 and its 200 day moving average price is $159.19. The stock has a market capitalization of $251.02 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 29.50 and a beta of 1.49. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.99 EPS for the current year.

Qualcomm announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Qualcomm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.92 dividend. This is a boost from Qualcomm's previous quarterly dividend of $0.89. The ex-dividend date is Thursday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.5%. Qualcomm's payout ratio is presently 38.70%.

Insiders Place Their Bets

In related news, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares of the company's stock, valued at approximately $7,065,677.70. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares of the company's stock, valued at approximately $3,999,352.56. This trade represents a 7.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,306 shares of company stock valued at $3,435,583. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QCOM shares. Morgan Stanley started coverage on Qualcomm in a report on Friday, May 8th. They issued an "overweight" rating for the company. Tigress Financial lifted their target price on Qualcomm from $270.00 to $280.00 and gave the company a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on Qualcomm from $140.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Seaport Research Partners restated a "sell" rating and issued a $100.00 price target on shares of Qualcomm in a research note on Monday, March 16th. Finally, Robert W. Baird set a $300.00 price target on Qualcomm in a research note on Friday, May 1st. Fourteen analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $181.79.

Qualcomm Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

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