OVERSEA CHINESE BANKING Corp Ltd Acquires 6,239 Shares of Qualcomm Incorporated $QCOM

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,104 shares of the wireless technology company's stock after purchasing an additional 6,239 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Qualcomm were worth $4,339,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Qualcomm during the second quarter valued at about $17,583,115,000. Norges Bank bought a new stake in shares of Qualcomm in the 4th quarter valued at about $2,591,056,000. Bank of New York Mellon Corp bought a new stake in shares of Qualcomm in the 2nd quarter valued at about $1,523,930,000. Deutsche Bank AG purchased a new stake in Qualcomm during the 2nd quarter valued at about $1,178,349,000. Finally, Wellington Management Group LLP boosted its holdings 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 valued at $2,861,301,000 after acquiring an additional 4,290,622 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president owned 36,535 shares in the company, valued at $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 available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,325 shares of company stock valued at $1,925,859 over the last quarter. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QCOM. DZ Bank raised Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price target on the stock in a research note on Friday, June 26th. UBS Group lowered their price objective on Qualcomm from $190.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. HSBC reissued a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Evercore set a $159.00 target price on shares of Qualcomm in a research note on Thursday, July 30th. Finally, Bank of America lifted their target price on shares of Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Qualcomm presently has an average rating of "Hold" and a consensus target price of $203.63.

Qualcomm Stock Up 0.0%

Shares of NASDAQ:QCOM opened at $160.75 on Friday. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a market cap of $168.83 billion, a PE ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock's 50-day moving average is $178.26 and its 200 day moving average is $168.01.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released 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). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the previous year, the company earned $2.77 EPS. The company's revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend 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.

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