Freestone Grove Partners LP Acquires 55,495 Shares of Qualcomm Incorporated $QCOM

Key Points

• Freestone Grove Partners increased its Qualcomm stake by 495.5% in the second quarter, acquiring 55,495 additional shares for a total position worth approximately $12.3 million. Institutional investors collectively own 74.35% of Qualcomm.
• Analyst sentiment remains mixed, with Qualcomm receiving an overall “Hold” rating and a consensus price target of $203.76; Wells Fargo and Morgan Stanley recently cut their targets, while DZ Bank upgraded the stock to “Buy.”
• Qualcomm reported quarterly revenue of $9.95 billion but missed EPS estimates slightly, while year-over-year revenue declined 4%. The company declared a quarterly dividend of $0.92 per share, representing a 2.2% yield.

Freestone Grove Partners LP boosted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 495.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,694 shares of the wireless technology company's stock after buying an additional 55,495 shares during the quarter. Freestone Grove Partners LP's holdings in Qualcomm were worth $12,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Qualcomm by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Qualcomm by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares during the period. Sivia Capital Partners LLC increased its holdings in Qualcomm by 44.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock worth $530,000 after acquiring an additional 1,020 shares in the last quarter. Main Street Financial Solutions LLC raised its stake 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 acquiring an additional 333 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its holdings in Qualcomm by 9.7% during the second 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 in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on QCOM. Wells Fargo & Company lowered their target price on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Morgan Stanley dropped their price objective on Qualcomm from $231.00 to $220.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 target price on the stock in a research note on Friday, June 26th. Weiss Ratings restated a "hold (c)" rating on shares of Qualcomm in a research note on Wednesday, June 24th. Finally, Evercore set a $159.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $203.76.

Qualcomm Stock Up 0.6%

Shares of QCOM opened at $164.78 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $173.73 and a 200 day moving average of $168.67. The company has a market cap of $173.06 billion, a PE ratio of 19.07, a P/E/G ratio of 15.11 and a beta of 1.65. 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 announced its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts expect that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Dividend Announcement

The company 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 dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm's dividend payout ratio (DPR) is currently 42.59%.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were 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. This trade represents a 10.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,325 shares of company stock worth $1,925,859 over the last three months. 0.05% of the stock is owned by corporate insiders.

About Qualcomm

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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