Flputnam Investment Management Co. Makes New Investment in Qualcomm Incorporated $QCOM

Key Points

• Flputnam Investment Management acquired 59,797 Qualcomm shares worth approximately $11.05 million during the second quarter. Institutional investors and hedge funds collectively own 74.35% of QCOM.
• Qualcomm reported quarterly EPS of $2.21, slightly below analysts’ $2.23 estimate, while revenue of $9.95 billion exceeded expectations; revenue declined 4% year over year.
• The company declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 payout and a 2.3% yield. Analysts maintain an average “Hold” rating with a consensus price target of $203.63.

Flputnam Investment Management Co. acquired a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 59,797 shares of the wireless technology company's stock, valued at approximately $11,050,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Brighton Jones LLC lifted its position in shares of Qualcomm by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Qualcomm by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after purchasing an additional 340 shares during the period. Sivia Capital Partners LLC grew its position in Qualcomm by 44.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock worth $530,000 after purchasing an additional 1,020 shares in the last quarter. Main Street Financial Solutions LLC grew its position in Qualcomm by 6.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock worth $920,000 after purchasing an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in Qualcomm by 9.7% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 603 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Trading Up 1.1%

NASDAQ:QCOM opened at $161.91 on Thursday. The company has a market capitalization of $170.04 billion, a P/E ratio of 18.74, a P/E/G ratio of 14.79 and a beta of 1.65. The stock's 50 day moving average price is $180.12 and its 200 day moving average price is $168.00. 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 Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. Qualcomm's revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, research analysts forecast that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Dividend Announcement

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

Insider Buying and Selling at Qualcomm

In related news, EVP Heather S. Ace sold 3,200 shares of the company's stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the transaction, the executive vice president directly owned 20,684 shares in the company, 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. In the last ninety days, insiders sold 10,700 shares of company stock valued at $1,824,078. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Guggenheim set a $200.00 target price on Qualcomm in a report on Monday, June 22nd. TD Cowen lowered their price target on Qualcomm from $225.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Morgan Stanley dropped their price target on Qualcomm from $231.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Zacks Research raised Qualcomm from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada decreased their price objective on Qualcomm from $250.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $203.63.

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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