MidFirst Bank Acquires Shares of 24,747 Qualcomm Incorporated $QCOM

Key Points

• MidFirst Bank acquired 24,747 Qualcomm shares during the second quarter, valued at approximately $4.57 million. Institutional investors and hedge funds collectively own 74.35% of Qualcomm.
• Qualcomm’s latest quarterly results showed adjusted EPS of $2.21, slightly below expectations, while revenue of $9.95 billion exceeded estimates; revenue declined 4% year over year. The company issued fourth-quarter guidance of $2.05–$2.25 EPS.
• Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to a $3.68 annualized payout and a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $203.63, versus the stock’s reported price of $160.74.

MidFirst Bank acquired a new stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,747 shares of the wireless technology company's stock, valued at approximately $4,573,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Qualcomm during the 2nd quarter valued at $17,583,115,000. Norges Bank purchased a new position in Qualcomm during the fourth quarter worth $2,591,056,000. Bank of New York Mellon Corp purchased a new position in Qualcomm during the second quarter worth $1,523,930,000. Deutsche Bank AG bought a new position in Qualcomm during the second quarter valued at $1,178,349,000. Finally, Wellington Management Group LLP increased its position in Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock valued at $2,861,301,000 after acquiring an additional 4,290,622 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Stock Down 0.7%

NASDAQ:QCOM opened at $160.74 on Friday. The company has a market cap of $168.81 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 14.95 and a beta of 1.65. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $179.28 and a 200-day simple moving average of $168.07.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS 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 the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company'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 posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's payout ratio is 42.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. HSBC reissued a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Melius Research set a $220.00 price target on shares of Qualcomm in a report on Monday, May 18th. Evercore set a $159.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. UBS Group decreased their price objective on shares of Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Finally, Daiwa Securities Group upgraded Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 target price for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $203.63.

Insider Transactions at Qualcomm

In other news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president owned 36,535 shares of the company's stock, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the sale, the executive vice president owned 20,684 shares of the company's stock, valued at $3,376,869.84. The trade was a 10.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,700 shares of company stock worth $1,824,078 over the last 90 days. Insiders own 0.05% of the company's stock.

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.

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