Performance Wealth Partners LLC Makes New Investment in Qualcomm Incorporated $QCOM

Key Points

• Performance Wealth Partners LLC initiated a Qualcomm position by purchasing 3,465 shares worth approximately $640,000 in the second quarter. Institutional investors collectively own 74.35% of Qualcomm’s stock.
• Qualcomm’s latest quarter included revenue of $9.95 billion, above estimates, but EPS of $2.21 narrowly missed forecasts and revenue fell 4% year over year. Analysts maintain an average “Hold” rating with a $203.63 price target.
• Two Qualcomm executives sold shares under pre-arranged Rule 10b5-1 plans, contributing to 10,700 insider shares sold for $1.82 million over the past three months. The company also declared a quarterly dividend of $0.92 per share, yielding about 2.3% annually.

Performance Wealth Partners LLC bought a new position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 3,465 shares of the wireless technology company's stock, valued at approximately $640,000.

Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of Qualcomm during the 2nd quarter valued at about $1,178,349,000. Perigon Wealth Management LLC purchased a new position in Qualcomm in the second quarter worth about $7,585,000. Commerzbank Aktiengesellschaft FI bought a new stake in Qualcomm during the second quarter worth approximately $24,302,000. Phillips Wealth Planners LLC bought a new stake in Qualcomm during the second quarter worth approximately $328,000. Finally, Trust Co. of Vermont purchased a new stake in Qualcomm during the second quarter valued at approximately $1,971,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the company's stock in a transaction dated 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 directly owned 20,684 shares of the company's stock, valued at $3,376,869.84. This represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. 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 have sold a total of 10,700 shares of company stock worth $1,824,078 in the last three months. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Qualcomm from $231.00 to $220.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Zacks Research upgraded Qualcomm from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Melius Research set a $220.00 price objective on shares of Qualcomm in a research note on Monday, May 18th. Wells Fargo & Company cut their price objective on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Finally, Bank of America increased their target price on shares of Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $203.63.

Qualcomm Stock Performance

Qualcomm stock opened at $161.91 on Thursday. 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 company has a market capitalization of $170.04 billion, a PE ratio of 18.74, a P/E/G ratio of 14.79 and a beta of 1.65. The company has a 50 day moving average price of $180.12 and a 200-day moving average price of $168.00. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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 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 firm's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, equities analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year.

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm's dividend payout ratio is presently 42.59%.

About Qualcomm

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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