Cullen Frost Bankers Inc. Boosts Stake in QUALCOMM Incorporated $QCOM

Key Points

• Cullen Frost Bankers Inc. increased its stake in QUALCOMM by 4.4%, acquiring a total of 237,313 shares worth approximately $37.8 million.
• Institutional investors now hold 74.35% of QUALCOMM's shares, with Kingstone Capital Partners significantly growing its position by 656,661.0% during the second quarter.
• QUALCOMM announced a quarterly dividend of $0.89 per share, with an annualized yield of 2.1%, payable on December 18 to shareholders of record on December 4.

Cullen Frost Bankers Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,313 shares of the wireless technology company's stock after acquiring an additional 10,055 shares during the period. Cullen Frost Bankers Inc.'s holdings in QUALCOMM were worth $37,795,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Kingstone Capital Partners Texas LLC grew its position in QUALCOMM by 656,661.0% during the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock valued at $9,360,274,000 after acquiring an additional 58,764,593 shares during the period. Nuveen LLC purchased a new stake in shares of QUALCOMM in the first quarter worth about $529,713,000. Goldman Sachs Group Inc. boosted its position in shares of QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock worth $1,114,403,000 after buying an additional 1,407,797 shares during the period. Deutsche Bank AG boosted its position in shares of QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after buying an additional 875,412 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of QUALCOMM by 84.6% in the first quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company's stock worth $230,444,000 after buying an additional 707,615 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity

In other QUALCOMM news, CAO Patricia Y. Grech sold 201 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $170.00, for a total transaction of $34,170.00. Following the sale, the chief accounting officer owned 203 shares in the company, valued at $34,510. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the company's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the sale, the chief financial officer owned 36,541 shares in the company, valued at $6,067,998.46. The trade was a 18.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,102 shares of company stock valued at $27,706,855 over the last three months. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. Mizuho decreased their target price on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Arete raised QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 target price for the company in a research report on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $182.82.

QUALCOMM Trading Up 1.1%

NASDAQ:QCOM opened at $168.83 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The business's 50-day simple moving average is $162.68 and its 200 day simple moving average is $154.22. The stock has a market cap of $182.17 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.43 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company's revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.1%. QUALCOMM's dividend payout ratio is presently 34.33%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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