Cary Street Partners Financial LLC Buys 7,893 Shares of Qualcomm Incorporated $QCOM

Key Points

• Cary Street Partners Financial LLC increased its Qualcomm stake by 8.5% in the fourth quarter, buying 7,893 additional shares and bringing its total holding to 101,015 shares valued at about $17.3 million.
• Qualcomm reported better-than-expected quarterly earnings, posting $2.65 EPS versus $2.56 expected, while revenue of $10.60 billion slightly topped estimates; the company also issued Q3 2026 EPS guidance of $2.10-$2.30.
• The board authorized a $20 billion stock buyback and raised the quarterly dividend to $0.92 per share, while analysts currently rate the stock a consensus Hold with an average price target of $181.79.

Cary Street Partners Financial LLC increased its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,015 shares of the wireless technology company's stock after buying an additional 7,893 shares during the period. Cary Street Partners Financial LLC's holdings in Qualcomm were worth $17,279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 buying an additional 647,076 shares in the last quarter. Amundi raised its stake in Qualcomm by 9.9% in the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock worth $2,136,486,000 after buying an additional 1,138,541 shares in the last quarter. Wellington Management Group LLP grew its holdings in Qualcomm by 141.8% in the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after purchasing an additional 7,292,783 shares during the period. Invesco Ltd. grew its holdings in Qualcomm by 2.3% in the third quarter. Invesco Ltd. now owns 9,874,113 shares of the wireless technology company's stock worth $1,642,657,000 after purchasing an additional 220,209 shares during the period. Finally, Legal & General Group Plc grew its holdings in Qualcomm by 0.6% in the fourth quarter. Legal & General Group Plc now owns 9,264,902 shares of the wireless technology company's stock worth $1,584,815,000 after purchasing an additional 57,719 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 39,735 shares in the company, valued at $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. 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. In the last ninety days, insiders have sold 19,306 shares of company stock worth $3,435,583. Corporate insiders own 0.05% of the company's stock.

Qualcomm Stock Performance

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

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

Qualcomm announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 17th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.5%. Qualcomm's dividend payout ratio is currently 38.70%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $160.00 price objective on shares of Qualcomm in a report on Thursday, April 30th. Wells Fargo & Company cut shares of Qualcomm from a "positive" rating to an "underweight" rating in a report on Friday, May 8th. Robert W. Baird set a $300.00 price objective on shares of Qualcomm in a report on Friday, May 1st. Argus set a $220.00 price objective on shares of Qualcomm in a report on Friday, May 1st. Finally, UBS Group cut shares of Qualcomm from a "neutral" rating to an "underperform" rating in a report on Friday, May 8th. 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 MarketBeat.com, Qualcomm 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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