Formula Growth Ltd. Acquires Shares of 4,200 Qualcomm Incorporated $QCOM

Key Points

• Formula Growth Ltd. acquired 4,200 Qualcomm shares during the second quarter, valued at approximately $776,000. Institutional investors and hedge funds collectively own 74.35% of Qualcomm.
• Analyst sentiment is mixed, with Qualcomm carrying an average “Hold” rating and an average price target of $203.76; ratings include 15 Buys, 20 Holds, and two Sells.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding expectations, but earnings per share of $2.21 slightly missed estimates. The company also declared a quarterly dividend of $0.92 per share, equivalent to a 2.2% yield.

Formula Growth Ltd. bought a new stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,200 shares of the wireless technology company's stock, valued at approximately $776,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Qualcomm during the 2nd quarter worth approximately $17,583,115,000. Norges Bank purchased a new position in shares of Qualcomm in the fourth quarter valued at approximately $2,591,056,000. Bank of New York Mellon Corp purchased a new position in shares of Qualcomm in the second quarter valued at approximately $1,523,930,000. Deutsche Bank AG purchased a new position in shares of Qualcomm in the second quarter valued at approximately $1,178,349,000. Finally, Wellington Management Group LLP boosted its stake in shares of Qualcomm by 34.5% in 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 acquiring an additional 4,290,622 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Barclays reiterated an "underweight" rating and set a $180.00 price target on shares of Qualcomm in a research report on Thursday, July 30th. Roth Capital assumed coverage on shares of Qualcomm in a research note on Friday, May 8th. They set a "buy" rating on the stock. Oppenheimer set a $200.00 target price on shares of Qualcomm in a research note on Monday, July 27th. Melius Research set a $220.00 target price on shares of Qualcomm in a report on Monday, May 18th. Finally, Freedom Capital upgraded shares of Qualcomm from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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 business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the transaction, the executive vice president directly owned 23,184 shares of the company's stock, valued at approximately $4,191,899.04. This trade represents a 9.73% decrease in their position. 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 sold 11,325 shares of company stock worth $1,925,859. 0.05% of the stock is currently owned by company insiders.

Qualcomm Stock Up 0.6%

Shares of NASDAQ QCOM opened at $164.78 on Friday. The company has a market capitalization of $173.06 billion, a P/E ratio of 19.07, a P/E/G ratio of 15.11 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The company has a 50 day simple moving average of $173.73 and a 200-day simple moving average of $168.67. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released 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). 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%. The company's revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities research analysts predict that Qualcomm Incorporated will post 7.74 earnings per share for the current year.

Qualcomm Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders 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 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's dividend payout ratio is 42.59%.

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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