Meeder Asset Management Inc. Buys New Position in Qualcomm Incorporated $QCOM

Key Points

• Meeder Asset Management purchased 60,593 Qualcomm shares during the second quarter, valued at approximately $11.2 million. Institutional investors and hedge funds collectively own 74.35% of QCOM.
• Analyst sentiment is mixed, with Qualcomm holding an average “Hold” rating and a consensus price target of $203.63. Recent firms have lowered targets, including Wells Fargo and UBS, while Benchmark maintained a “Buy” rating despite reducing its target to $270.
• Qualcomm reported quarterly EPS of $2.21, slightly below expectations, while revenue of $9.95 billion exceeded estimates but declined 4% year over year. The company also declared a quarterly dividend of $0.92 per share, representing a 2.3% annualized yield.

Meeder Asset Management Inc. bought a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 60,593 shares of the wireless technology company's stock, valued at approximately $11,197,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Qualcomm by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after purchasing an additional 647,076 shares in the last quarter. BlackRock Inc. bought a new stake in Qualcomm during the second quarter worth approximately $17,583,115,000. Geode Capital Management LLC boosted its holdings 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 buying an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP grew its position in 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 buying an additional 4,290,622 shares during the last quarter. Finally, Norges Bank acquired a new position in Qualcomm in the fourth quarter worth approximately $2,591,056,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares in the company, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Qualcomm 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 transaction, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. This trade represents a 8.05% 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 have sold 10,700 shares of company stock worth $1,824,078 over the last three months. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QCOM shares. Benchmark cut their price objective on Qualcomm from $300.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Bank of America lifted their target price on Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a report on Tuesday, June 23rd. Barclays reaffirmed an "underweight" rating and set a $180.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Wells Fargo & Company reduced their target price on Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Finally, UBS Group decreased their price target on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Qualcomm presently has an average rating of "Hold" and an average price target of $203.63.

Qualcomm Trading Down 0.7%

Qualcomm stock opened at $160.74 on Friday. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The firm has a market capitalization of $168.81 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 14.95 and a beta of 1.65. The company has a 50 day moving average price of $179.28 and a 200 day moving average price of $168.07.

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 firm had revenue of $9.95 billion for 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%. Qualcomm's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Research analysts forecast that Qualcomm Incorporated will post 7.74 EPS 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 issued a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm's payout ratio is currently 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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