Cullinan Associates Inc. Has $9.19 Million Stake in Qualcomm Incorporated $QCOM

Cullinan Associates Inc. reduced its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,744 shares of the wireless technology company's stock after selling 3,728 shares during the period. Cullinan Associates Inc.'s holdings in Qualcomm were worth $9,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. BlackRock Inc. bought a new stake in shares of Qualcomm during the 2nd quarter valued at $17,583,115,000. Geode Capital Management LLC increased its position in shares of Qualcomm by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after purchasing an additional 3,221,924 shares during the period. Van ECK Associates Corp raised its stake in Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock valued at $3,178,872,000 after purchasing an additional 3,179,720 shares in the last quarter. Wellington Management Group LLP lifted its position in Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares during the period. Finally, Norges Bank acquired a new stake in Qualcomm during the fourth quarter worth about $2,591,056,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a research note on Friday, June 5th. Benchmark dropped their target price on shares of Qualcomm from $300.00 to $270.00 and set a "buy" rating for the company in a report on Monday, July 27th. Raymond James Financial initiated coverage on shares of Qualcomm in a research note on Thursday, June 25th. They issued a "strong-buy" rating on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Qualcomm presently has a consensus rating of "Hold" and an average target price of $203.76.

Insider Transactions at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 36,535 shares of the company's stock, valued at $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the sale, the chief accounting officer owned 208 shares of the company's stock, valued at approximately $33,872.80. The trade was a 75.03% 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 ninety days, insiders sold 11,325 shares of company stock valued at $1,925,859. Corporate insiders own 0.05% of the company's stock.

Qualcomm Stock Down 0.4%

Qualcomm stock opened at $164.19 on Friday. The firm has a market cap of $172.44 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 15.16 and a beta of 1.65. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The firm has a 50 day moving average price of $172.49 and a two-hundred day moving average price of $168.64.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 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 firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the prior year, the company posted $2.77 earnings per share. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities analysts predict that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio (DPR) is presently 42.59%.

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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