Handelsbanken Fonder AB Has $99.77 Million Stock Position in Qualcomm Incorporated $QCOM

Key Points

• Handelsbanken Fonder AB cut its Qualcomm stake by 22.4% in the second quarter, selling 156,046 shares and retaining 539,896 shares worth approximately $99.77 million. Institutional investors and hedge funds own 74.35% of Qualcomm.
• Qualcomm’s latest quarter featured $9.95 billion in revenue, exceeding estimates, but adjusted EPS of $2.21 narrowly missed expectations and revenue declined 4% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $203.63.
• Company insiders sold 9,029 shares worth $1.58 million over the past 90 days, while Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to a 2.3% annualized yield.

Handelsbanken Fonder AB reduced its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 539,896 shares of the wireless technology company's stock after selling 156,046 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of Qualcomm worth $99,767,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Qualcomm in the 4th quarter valued at approximately $2,591,056,000. Wellington Management Group LLP increased its position in Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares in the last quarter. Geode Capital Management LLC increased its position in Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after purchasing an additional 3,221,924 shares in the last quarter. Invesco Ltd. increased its position in Qualcomm by 28.1% during the 4th quarter. Invesco Ltd. now owns 12,645,603 shares of the wireless technology company's stock worth $2,163,030,000 after purchasing an additional 2,771,490 shares in the last quarter. Finally, Viking Global Investors LP lifted its stake in Qualcomm by 120.1% in the 2nd quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company's stock valued at $502,125,000 after purchasing an additional 1,720,529 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the transaction, the executive vice president owned 23,184 shares in the company, valued at approximately $4,191,899.04. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,029 shares of company stock valued at $1,583,195 over the last ninety days. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. Dbs Bank upgraded shares of Qualcomm to a "moderate buy" rating in a research report on Tuesday, July 7th. Morgan Stanley lowered their price target on shares of Qualcomm from $231.00 to $220.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Lake Street Capital cut Qualcomm to a "hold" rating in a research note on Thursday, June 25th. Guggenheim set a $200.00 price objective on Qualcomm in a report on Monday, June 22nd. Finally, BNP Paribas Exane lowered Qualcomm to a "neutral" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty-one 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 price target of $203.63.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $162.17 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The stock has a market cap of $170.32 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 15.41 and a beta of 1.65. The company's fifty day moving average is $188.58 and its 200 day moving average is $167.59.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The company 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 business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts forecast that Qualcomm Incorporated will post 7.78 EPS for the current year.

Qualcomm Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's payout ratio is currently 42.59%.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source