Public Employees Retirement System of Ohio lowered its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 432,733 shares of the wireless technology company's stock after selling 48,603 shares during the period. Public Employees Retirement System of Ohio's holdings in Qualcomm were worth $79,965,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Qualcomm in the 2nd quarter valued at about $17,583,115,000. Norges Bank bought a new position in Qualcomm in the fourth quarter worth approximately $2,591,056,000. Bank of New York Mellon Corp acquired a new stake in Qualcomm in the second quarter valued at approximately $1,523,930,000. Deutsche Bank AG bought a new stake in shares of Qualcomm during the second quarter valued at approximately $1,178,349,000. Finally, Wellington Management Group LLP increased its holdings in shares of 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 in the last quarter. Institutional investors own 74.35% of the company's stock.
Insider Activity at Qualcomm
In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the sale, the executive vice president directly owned 23,184 shares in the company, valued at approximately $4,191,899.04. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. This trade represents a 8.05% 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. In the last ninety days, insiders sold 11,325 shares of company stock worth $1,925,859. Corporate insiders own 0.05% of the company's stock.
Analysts Set New Price Targets
QCOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Qualcomm from $160.00 to $265.00 and gave the stock a "neutral" rating in a report on Friday, June 5th. Benchmark lowered their price objective on shares of Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Evercore set a $159.00 price objective on shares of Qualcomm in a research note on Thursday, July 30th. Tigress Financial lifted their price objective on shares of Qualcomm from $270.00 to $280.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $160.00 target price on shares of Qualcomm in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $203.76.
Check Out Our Latest Research Report on QCOM
Qualcomm Price Performance
Shares of NASDAQ QCOM opened at $164.78 on Friday. The company has a market capitalization of $173.06 billion, a PE ratio of 19.07, a PEG ratio of 15.11 and a beta of 1.65. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $173.73 and its 200-day moving average price is $168.67. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92.
Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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 net margin of 21.01% and a return on equity of 38.36%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities analysts anticipate that Qualcomm Incorporated will post 7.74 EPS for the current year.
Qualcomm Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm's dividend payout ratio (DPR) is 42.59%.
About Qualcomm
(
Free Report)
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.
Further Reading
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