Granite Islands Private Wealth LLC Has $948,000 Stock Position in Qualcomm Incorporated $QCOM

Key Points

• Granite Islands Private Wealth LLC increased its Qualcomm stake by 59.2% in the first quarter, buying 2,753 more shares and bringing its total holding to 7,404 shares valued at about $948,000.
• Qualcomm continues to attract heavy institutional interest, with hedge funds and asset managers owning 74.35% of the stock. Large holders such as Norges Bank, Geode Capital, and Invesco also reported sizable positions.
• The stock has mixed analyst sentiment: the average rating is Hold with an average price target of $218.03, even as some firms recently raised targets and HSBC initiated coverage with a Buy rating.

Granite Islands Private Wealth LLC grew its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 59.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,404 shares of the wireless technology company's stock after purchasing an additional 2,753 shares during the period. Granite Islands Private Wealth LLC's holdings in Qualcomm were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of QCOM. Norges Bank acquired a new stake in Qualcomm in the 4th quarter valued at $2,591,056,000. Wellington Management Group LLP raised its stake in Qualcomm by 141.8% during the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after acquiring an additional 7,292,783 shares in the last quarter. Geode Capital Management LLC raised its stake in Qualcomm by 12.5% during 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 acquiring an additional 3,221,924 shares in the last quarter. Invesco Ltd. raised its stake in Qualcomm by 28.1% during the fourth quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company's stock worth $2,163,030,000 after acquiring an additional 2,771,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Qualcomm by 36.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company's stock valued at $1,090,025,000 after acquiring an additional 1,764,252 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on QCOM. Oppenheimer downgraded shares of Qualcomm from a "market perform" rating to a "market perform" rating in a research note on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Qualcomm from $230.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $160.00 price target on shares of Qualcomm in a report on Thursday, April 30th. Argus set a $220.00 price target on shares of Qualcomm in a research report on Friday, May 1st. Finally, HSBC assumed coverage on shares of Qualcomm in a research note on Friday, May 8th. They set a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $218.03.

Qualcomm Price Performance

Qualcomm stock opened at $189.39 on Friday. The business's fifty day moving average is $201.08 and its two-hundred day moving average is $167.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. The firm has a market cap of $199.62 billion, a P/E ratio of 20.59, a P/E/G ratio of 25.46 and a beta of 1.59. 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, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.09. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. During the same period last year, the company posted $2.85 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Equities research analysts forecast that Qualcomm Incorporated will post 7.97 earnings per share for the current fiscal year.

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. This is an increase from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's payout ratio is currently 40.00%.

Qualcomm declared that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm raised its fiscal 2029 non-handset revenue target to $40 billion from $22 billion and said its data center business could exceed $15 billion by 2029, reinforcing the company’s push beyond smartphone chips.
• Positive Sentiment: The company said Meta and Microsoft are early customers for its data center CPUs, giving investors outside validation for Qualcomm’s AI infrastructure strategy and helping the market see a clearer growth path.
• Positive Sentiment: Analysts turned more bullish after the update, with multiple firms raising price targets and DZ Bank upgrading Qualcomm from hold to buy, suggesting Wall Street is warming to the diversification story.
• Positive Sentiment: Qualcomm also announced a $3.9 billion acquisition of Modular, which should strengthen its AI software stack and improve its ability to compete in cloud and edge AI workloads.
• Neutral Sentiment: Commentary pieces from outlets like Seeking Alpha and 247WallSt argue the market may still be misunderstanding Qualcomm’s AI pivot, but these are opinion-driven and less directly market-moving.
• Negative Sentiment: Despite the upbeat guidance, investors may still worry that much of the promised AI chip revenue is years away and that execution risk remains high, especially as Qualcomm transitions away from its handset-heavy mix.

Insider Activity at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $197.35, for a total transaction of $493,375.00. Following the transaction, the executive vice president directly owned 25,684 shares in the company, valued at approximately $5,068,737.40. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, 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 transaction of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 21,806 shares of company stock worth $3,928,958. 0.05% of the stock is owned by insiders.

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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