Public Employees Retirement System of Ohio Cuts Holdings in QUALCOMM Incorporated $QCOM

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in QUALCOMM by 1.6% in Q2, holding 484,414 shares valued at approximately $77 million.
• QUALCOMM reported Q3 earnings of $2.77 per share, surpassing estimates, with a revenue of $10.37 billion during the quarter.
• The company declared a quarterly dividend of $0.89 per share, with an annualized yield of 2.1%, to be paid on September 25th.

Public Employees Retirement System of Ohio lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,414 shares of the wireless technology company's stock after selling 7,935 shares during the quarter. Public Employees Retirement System of Ohio's holdings in QUALCOMM were worth $77,148,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 93 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter worth approximately $27,000. Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.1%

NASDAQ QCOM opened at $169.53 on Wednesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The company has a fifty day simple moving average of $157.65 and a two-hundred day simple moving average of $152.51. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $182.92 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.46 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $2.33 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.1%. QUALCOMM's dividend payout ratio is currently 34.33%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total transaction of $522,814.38. Following the completion of the sale, the chief financial officer directly owned 39,874 shares in the company, valued at approximately $6,254,635.64. The trade was a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 791 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the sale, the chief accounting officer owned 1,106 shares in the company, valued at $171,230.92. The trade was a 41.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,100 shares of company stock worth $2,026,291 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on QCOM. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the stock an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Mizuho decreased their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Finally, Arete raised shares of QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $182.82.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.