Pictet Asset Management Holding SA Trims Stake in Qualcomm Incorporated $QCOM

Key Points

• Pictet Asset Management trimmed its stake in Qualcomm by 25.7% during Q4, leaving it with 581,081 shares valued at about $99.4 million.
• Qualcomm beat quarterly estimates with $3.50 EPS (vs. $3.38 consensus) and $12.25 billion in revenue, and set Q2 2026 guidance of $2.45–$2.65 EPS.
• Reports of an OpenAI collaboration on AI‑native smartphone chips have fueled a rally, while management approved a $20 billion buyback and raised the quarterly dividend to $0.92, though analysts remain mixed with a consensus "Hold" and $158.25 target.

Pictet Asset Management Holding SA lowered its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 581,081 shares of the wireless technology company's stock after selling 201,353 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of Qualcomm worth $99,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. grew its holdings in shares of Qualcomm by 47.5% in the fourth quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company's stock worth $3,197,000 after purchasing an additional 6,018 shares during the last quarter. Inscription Capital LLC grew its holdings in Qualcomm by 58.1% during the 3rd quarter. Inscription Capital LLC now owns 13,055 shares of the wireless technology company's stock worth $2,172,000 after acquiring an additional 4,799 shares in the last quarter. Savvy Advisors Inc. grew its holdings in Qualcomm by 43.3% during the 4th quarter. Savvy Advisors Inc. now owns 19,102 shares of the wireless technology company's stock worth $3,267,000 after acquiring an additional 5,776 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Qualcomm by 1.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,004,339 shares of the wireless technology company's stock worth $167,082,000 after acquiring an additional 16,738 shares in the last quarter. Finally, First National Trust Co grew its holdings in Qualcomm by 9.4% during the 3rd quarter. First National Trust Co now owns 57,687 shares of the wireless technology company's stock worth $9,597,000 after acquiring an additional 4,976 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Royal Bank Of Canada dropped their target price on shares of Qualcomm from $180.00 to $150.00 and set a "sector perform" rating on the stock in a report on Thursday, February 5th. Seaport Research Partners reiterated a "sell" rating and set a $100.00 target price on shares of Qualcomm in a report on Monday, March 16th. Argus dropped their target price on shares of Qualcomm from $205.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Morgan Stanley began coverage on shares of Qualcomm in a report on Tuesday, February 10th. They set an "underweight" rating and a $132.00 target price on the stock. Finally, Evercore dropped their target price on shares of Qualcomm from $157.00 to $134.00 and set an "in-line" rating on the stock in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $158.25.

Qualcomm Stock Performance

QCOM stock opened at $150.00 on Wednesday. The firm has a market cap of $160.05 billion, a price-to-earnings ratio of 30.99 and a beta of 1.28. The firm has a 50-day simple moving average of $134.67 and a two-hundred day simple moving average of $155.16. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $205.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.83 and a current ratio of 2.51.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The wireless technology company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.38 by $0.12. The business had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.16 billion. Qualcomm had a net margin of 11.96% and a return on equity of 44.09%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.41 earnings per share. Qualcomm has set its Q2 2026 guidance at 2.450-2.650 EPS. On average, equities analysts forecast that Qualcomm Incorporated will post 8.21 EPS for the current fiscal year.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.5%. Qualcomm's payout ratio is currently 73.55%.

Qualcomm declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Reports that Qualcomm is involved with OpenAI on an “AI agent” smartphone and is developing AI‑native chips have driven a strong rally by reframing Qualcomm as a platform play for on‑device AI rather than just a component supplier. Reuters: Qualcomm surges on report
• Positive Sentiment: Analyses and feature pieces argue the OpenAI link could position Qualcomm to challenge incumbent smartphone ecosystems (Apple/others) by making Snapdragon the standard for edge AI — a re‑rating thesis that attracted substantial buying. MarketBeat: Did Qualcomm Just Put Apple in Check?
• Positive Sentiment: Market commentary highlights Qualcomm’s capital return actions (large buyback authorization and steady dividend) as management signaling confidence, which supports the stock during short‑term volatility. MarketBeat: Capital allocation and buybacks
• Neutral Sentiment: Qualcomm reports quarterly results tomorrow; investors are focused on revenue, EPS vs. consensus, and any guidance updates that could validate or temper the OpenAI narrative. Yahoo Finance: Earnings to Watch
• Neutral Sentiment: Coverage notes the OpenAI/Qualcomm work targets AI‑native mass‑market chips on a multi‑year timeline (reports point to a 2028 production horizon), which makes the story strategic but long‑dated relative to near‑term earnings. Yahoo: Qualcomm Eyes AI‑Native Smartphones
• Negative Sentiment: Some of today’s pullback is linked to reports about internal OpenAI struggles and a broader pullback in AI‑infrastructure names, which prompted profit‑taking and lowered risk appetite among short‑term traders. Benzinga: What's Going On With The Fall In Qualcomm Stock?
• Negative Sentiment: Analysts have warned the semiconductor group faces uneven dynamics despite AI growth — Bernstein flagged that some chip stocks are “living in a bad neighborhood,” injecting caution into the rally. Benzinga: Analyst warns on chip group
• Negative Sentiment: Several commentators caution the surge may have been overdone and that valuation/earnings scepticism and possible profit‑taking create downside risk ahead of confirmed deals or measurable revenue upside. Seeking Alpha: Profit‑taking caution

Insider Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $137.00, for a total transaction of $438,400.00. Following the completion of the sale, the executive vice president directly owned 16,393 shares of the company's stock, valued at approximately $2,245,841. This represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares of the company's stock, valued at approximately $3,999,352.56. The trade was a 7.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 9,118 shares of company stock valued at $1,233,705. 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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