Bank of New York Mellon Corp Makes New Investment in Qualcomm Incorporated $QCOM

Key Points

• Bank of New York Mellon acquired 8.25 million Qualcomm shares worth approximately $1.52 billion, giving it a 0.79% stake. Institutional investors and hedge funds collectively own 74.35% of QCOM.
• Analyst sentiment remains mixed: Qualcomm has a consensus “Hold” rating and a $203.63 target price, while several firms recently lowered their targets and DZ Bank upgraded the stock to “Buy.”
• Qualcomm’s latest quarter included a slight EPS miss but revenue above expectations, with year-over-year revenue down 4%. The company declared a $0.92 quarterly dividend, representing a 2.3% yield.

Bank of New York Mellon Corp purchased a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,246,818 shares of the wireless technology company's stock, valued at approximately $1,523,930,000. Bank of New York Mellon Corp owned approximately 0.79% of Qualcomm as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Your Advocates Ltd. LLP acquired a new stake in Qualcomm during the 1st quarter worth $26,000. Torren Management LLC acquired a new stake in shares of Qualcomm in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after buying an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in shares of Qualcomm in the fourth quarter worth about $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in Qualcomm during the fourth quarter worth about $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on QCOM. The Goldman Sachs Group set a $160.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Benchmark lowered their target price on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Citigroup dropped their price target on Qualcomm from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. UBS Group cut their price target on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Finally, DZ Bank upgraded Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price objective on the stock in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $203.63.

Insider Transactions at Qualcomm

In other news, 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 value of $470,528.00. Following the completion of the sale, the executive vice president directly owned 36,535 shares of the company's stock, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Qualcomm stock in a transaction 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 completion of the sale, the executive vice president directly owned 20,684 shares of the company's stock, valued at $3,376,869.84. The trade was a 10.78% 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. Over the last quarter, insiders have sold 10,700 shares of company stock valued at $1,824,078. Company insiders own 0.05% of the company's stock.

Qualcomm Stock Down 0.7%

QCOM stock opened at $160.74 on Friday. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The firm has a market cap of $168.81 billion, a PE ratio of 18.60, a PEG ratio of 14.95 and a beta of 1.65. The firm's 50 day moving average price is $179.28 and its 200-day moving average price is $168.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The business had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. The company'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. On average, equities research analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

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

About Qualcomm

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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