Allworth Financial LP reduced its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 29.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,992 shares of the wireless technology company's stock after selling 48,132 shares during the quarter. Allworth Financial LP's holdings in Qualcomm were worth $21,065,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its position in Qualcomm by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after acquiring an additional 647,076 shares during the period. BlackRock Inc. purchased a new position in Qualcomm during the second quarter valued at $17,583,115,000. Geode Capital Management LLC lifted its position in Qualcomm by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock valued at $4,931,968,000 after purchasing an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock valued at $2,861,301,000 after purchasing an additional 4,290,622 shares during the period. Finally, Norges Bank bought a new stake in Qualcomm during the fourth quarter valued at about $2,591,056,000. Hedge funds and other institutional investors own 74.35% of the company's stock.
Qualcomm Trading Up 0.0%
Shares of QCOM opened at $160.75 on Friday. The firm has a market cap of $168.82 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 14.84 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a 50 day simple moving average of $178.26 and a two-hundred day simple moving average of $168.01.
Qualcomm (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.Qualcomm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities analysts expect that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.
Qualcomm Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm's dividend payout ratio (DPR) is presently 42.59%.
Analyst Ratings Changes
A number of brokerages have commented on QCOM. The Goldman Sachs Group set a $160.00 price target on Qualcomm in a research report on Thursday, July 30th. HSBC reiterated a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Susquehanna reduced their target price on shares of Qualcomm from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Tigress Financial raised their target price on shares of Qualcomm from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $203.63.
View Our Latest Stock Report on Qualcomm
Insider Activity
In other news, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total value of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares in the company, valued at $4,191,899.04. This represents a 9.73% 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. Insiders sold a total of 11,325 shares of company stock worth $1,925,859 over the last 90 days. Corporate insiders own 0.05% of the company's stock.
About Qualcomm
(
Free Report)
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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