Citizens Financial Group Inc. RI Buys Shares of 59,918 Qualcomm Incorporated $QCOM

Citizens Financial Group Inc. RI purchased a new position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 59,918 shares of the wireless technology company's stock, valued at approximately $11,072,000.

Other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP bought a new stake in shares of Qualcomm during the 1st quarter worth $26,000. Torren Management LLC bought a new position in Qualcomm in the fourth quarter valued at $29,000. 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 purchasing an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new stake in Qualcomm during the fourth quarter valued at about $31,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in Qualcomm during the fourth quarter worth about $32,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QCOM shares. Monness Crespi & Hardt upgraded Qualcomm to a "buy" rating in a report on Thursday, June 25th. Cantor Fitzgerald decreased their price objective on Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Susquehanna dropped their target price on Qualcomm from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. HSBC reaffirmed a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Finally, Guggenheim set a $200.00 price target on shares of Qualcomm in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $203.63.

Qualcomm Stock Down 0.7%

QCOM opened at $160.74 on Friday. The company has a market cap of $168.81 billion, a P/E ratio of 18.60, a P/E/G ratio of 14.95 and a beta of 1.65. The business's 50-day moving average price is $179.28 and its 200-day moving average price is $168.07. The company has a current ratio of 2.02, a quick ratio of 1.28 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 earnings results 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 net margin of 21.01% and a return on equity of 38.36%. The company had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. During the same quarter in the prior year, the company earned $2.77 earnings per share. The company's revenue was down 4.0% compared to the same quarter last year. 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 EPS for the current year.

Qualcomm Announces Dividend

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

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.

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