Bank of America Corp DE cut its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 5.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,954,402 shares of the wireless technology company's stock after selling 525,856 shares during the quarter. Bank of America Corp DE owned approximately 0.95% of Qualcomm worth $1,839,474,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 170 shares in the last quarter. ABS Investment Management LLC purchased a new stake in Qualcomm in the 2nd quarter worth approximately $34,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of Qualcomm during the 4th quarter worth approximately $32,000. Your Advocates Ltd. LLP acquired a new stake in shares of Qualcomm during the 1st quarter worth approximately $26,000. Finally, Burk Holdings LLC increased its holdings in shares of Qualcomm by 191.7% during the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company's stock valued at $39,000 after purchasing an additional 138 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on QCOM. Piper Sandler started coverage on shares of Qualcomm in a research report on Wednesday, September 9th. They set a "neutral" rating and a $190.00 price target on the stock. UBS Group decreased their price objective on shares of Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group set a $160.00 target price on shares of Qualcomm in a research note on Thursday, July 30th. Oppenheimer set a $200.00 target price on Qualcomm in a research report on Monday, July 27th. Finally, Lake Street Capital lowered Qualcomm to a "hold" rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Qualcomm currently has a consensus rating of "Hold" and a consensus price target of $204.10.
View Our Latest Stock Analysis on QCOM
Insider Activity
In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $182.85, for a total transaction of $457,125.00. Following the completion of the transaction, the executive vice president owned 18,184 shares in the company, valued at $3,324,944.40. The trade was a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This trade represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,533 shares of company stock valued at $1,924,969. Company insiders own 0.05% of the company's stock.
Qualcomm Price Performance
Shares of NASDAQ QCOM opened at $180.15 on Tuesday. The firm has a 50-day simple moving average of $168.32 and a 200-day simple moving average of $171.29. The stock has a market capitalization of $189.20 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 3.79 and a beta of 1.68. 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 52 week low of $121.99 and a 52 week high of $259.92.
Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (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 company had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. During the same quarter last year, the company earned $2.77 earnings per share. Qualcomm's revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities analysts predict that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.
Qualcomm Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, September 3rd. Qualcomm's payout ratio is 42.59%.
About Qualcomm
(
Free Report)
Qualcomm Incorporated NASDAQ: QCOM is a technology company that develops wireless communications technologies, semiconductors and related intellectual property. Headquartered in San Diego, California, the company serves customers and partners worldwide across the mobile, automotive, consumer electronics and industrial markets.
Through its Qualcomm CDMA Technologies (QCT) business, Qualcomm designs and supplies integrated circuits, system software and hardware platforms. Its products include Snapdragon mobile platforms, 5G and other wireless modems, radio-frequency components, connectivity solutions, processors and artificial intelligence technologies.
Read More
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.
Before you consider Qualcomm, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Qualcomm wasn't on the list.
While Qualcomm currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
