Geode Capital Management LLC Buys 3,221,924 Shares of Qualcomm Incorporated $QCOM

Key Points

• Geode Capital Management increased its Qualcomm stake by 12.5% in the fourth quarter, buying 3.22 million more shares and ending with 28.9 million shares valued at about $4.93 billion.
• Qualcomm reported stronger-than-expected quarterly earnings, posting $2.65 EPS versus $2.56 expected and revenue of $10.60 billion, while also guiding Q3 2026 EPS at 2.10 to 2.30.
• The company boosted its dividend to $0.92 per share from $0.89 and continues a large $20 billion share buyback program, signaling confidence in its capital returns.

Geode Capital Management LLC lifted its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,897,079 shares of the wireless technology company's stock after purchasing an additional 3,221,924 shares during the period. Geode Capital Management LLC owned about 2.71% of Qualcomm worth $4,931,968,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QCOM. Cloud Capital Management LLC bought a new position in Qualcomm during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. grew its holdings in Qualcomm by 90.9% during the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock worth $29,000 after acquiring an additional 80 shares in the last quarter. Torren Management LLC bought a new position in Qualcomm during the 4th quarter worth about $29,000. Glass Jacobson Investment Advisors llc grew its holdings in Qualcomm by 113.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock worth $32,000 after acquiring an additional 101 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in Qualcomm during the 4th quarter worth about $34,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Seaport Research Partners reiterated a "sell" rating and set a $100.00 target price on shares of Qualcomm in a report on Monday, March 16th. Royal Bank Of Canada increased their target price on shares of Qualcomm from $150.00 to $175.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. DZ Bank cut shares of Qualcomm from a "buy" rating to a "hold" rating and set a $195.00 target price on the stock. in a report on Friday, May 8th. UBS Group cut shares of Qualcomm from a "neutral" rating to an "underperform" rating in a report on Friday, May 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $190.00 target price on shares of Qualcomm in a report on Thursday, April 30th. Fourteen analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $181.79.

Qualcomm Stock Performance

QCOM stock opened at $233.40 on Thursday. The firm has a market cap of $246.00 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 30.82 and a beta of 1.49. The firm has a 50-day simple moving average of $161.42 and a two-hundred day simple moving average of $160.11. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $258.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities analysts forecast that Qualcomm Incorporated will post 7.99 EPS for the current fiscal year.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 1.6%. Qualcomm's payout ratio is currently 40.00%.

Qualcomm declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm reportedly secured a custom ASIC/AI-chip supply deal with ByteDance, a win that could open a new revenue stream in data centers and strengthen its position in AI infrastructure. Reuters article
• Positive Sentiment: Momentum in AI and semiconductor stocks has also lifted Qualcomm, with traders rotating into the sector and pushing QCOM to record highs on the ByteDance news. Yahoo Finance article
• Positive Sentiment: Recent commentary highlights Qualcomm’s growing automotive and data-center ambitions, reinforcing the idea that the company may be re-rated as a broader AI semiconductor player rather than only a mobile-chip supplier. MarketBeat article
• Neutral Sentiment: Some recent articles were mostly price-prediction or trend pieces, reflecting the stock’s strong recent rally rather than providing new fundamental information. 247WallSt article
• Negative Sentiment: There are execution and regulatory risks around any ByteDance-related chip business, including potential U.S. export controls that could affect shipments to Chinese data-center customers. MarketBeat article

Insider Activity

In related news, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the transaction, the executive vice president directly owned 39,735 shares of the company's stock, valued at $7,065,677.70. The trade was a 7.45% decrease in their ownership of the stock. 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 19,306 shares of company stock valued at $3,435,583. Corporate insiders own 0.05% of the company's stock.

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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