Argyle Capital Partners LLC Purchases New Stake in Qualcomm Incorporated $QCOM

Key Points

• Argyle Capital Partners purchased 6,403 Qualcomm shares during the second quarter, valued at approximately $1.18 million. Institutional investors collectively own 74.35% of the company.
• Qualcomm reported quarterly revenue of $9.95 billion, above estimates, but earnings per share of $2.21 narrowly missed consensus and revenue declined 4% year over year. Shares recently traded at $160.74, below their 50-day moving average.
• The company declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 payout and a 2.3% yield. Analysts maintain an overall “Hold” rating, with an average price target of $203.63.

Argyle Capital Partners LLC acquired a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,403 shares of the wireless technology company's stock, valued at approximately $1,183,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. IMG Wealth Management Inc. acquired a new position in Qualcomm during the 2nd quarter valued at about $246,000. Focused Alpha LLC purchased a new stake in shares of Qualcomm in the second quarter worth approximately $522,000. B & T Capital Management DBA Alpha Capital Management bought a new position in shares of Qualcomm in the second quarter valued at approximately $277,000. MidFirst Bank bought a new position in shares of Qualcomm in the second quarter valued at approximately $4,573,000. Finally, BlackRock Inc. purchased a new position in shares of Qualcomm during the second quarter valued at approximately $17,583,115,000. 74.35% of the stock is owned by institutional investors.

Qualcomm Trading Down 0.7%

Shares of QCOM stock opened at $160.74 on Friday. The firm has a market cap of $168.81 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 14.95 and a beta of 1.65. The business has a 50-day moving average price of $179.28 and a two-hundred day moving average price of $168.07. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The firm's revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio (DPR) is presently 42.59%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Qualcomm from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. UBS Group dropped their price target on shares of Qualcomm from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Daiwa Securities Group upgraded shares of Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price target on the stock in a report on Friday, May 8th. Monness Crespi & Hardt upgraded shares of Qualcomm to a "buy" rating in a research note on Thursday, June 25th. Finally, HSBC reissued a "hold" rating on shares of Qualcomm in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $203.63.

Insider Buying and Selling

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the transaction, the executive vice president owned 20,684 shares in the company, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,700 shares of company stock valued at $1,824,078. Insiders own 0.05% of the company's stock.

Qualcomm Company 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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source