Qualcomm Incorporated $QCOM Shares Acquired by Portfolio Design Labs LLC

Key Points

• Portfolio Design Labs LLC increased its Qualcomm stake by 85.4% in the second quarter, holding 18,755 shares worth approximately $3.47 million. Institutional investors and hedge funds collectively own 74.35% of Qualcomm’s stock.
• Qualcomm reported quarterly revenue of $9.95 billion, exceeding estimates, but earnings per share of $2.21 fell slightly short of expectations and revenue declined 4% year over year. The company declared a quarterly dividend of $0.92 per share, representing a 2.3% yield.
• Analyst sentiment remains mixed, with Qualcomm receiving a consensus “Hold” rating and an average price target of $203.63. Recent insider activity was negative, as executives sold a combined 11,325 shares worth about $1.93 million over the past three months.

Portfolio Design Labs LLC lifted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 85.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,755 shares of the wireless technology company's stock after buying an additional 8,640 shares during the period. Portfolio Design Labs LLC's holdings in Qualcomm were worth $3,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Your Advocates Ltd. LLP acquired a new position in Qualcomm in the first quarter valued at approximately $26,000. Torren Management LLC acquired a new stake in shares of Qualcomm during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. bought a new stake in shares of Qualcomm in the 4th quarter worth approximately $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in Qualcomm during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Trading Up 0.0%

Shares of NASDAQ:QCOM opened at $160.75 on Friday. The company has a 50 day moving average of $178.26 and a 200-day moving average of $168.01. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The firm has a market cap of $168.82 billion, a P/E ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65. 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 released its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, analysts anticipate that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.3%. Qualcomm's dividend payout ratio (DPR) is currently 42.59%.

Insider Buying and Selling

In related news, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The stock was 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 of the company's stock, valued at $33,872.80. The trade was a 75.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business's 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 completion of the sale, the executive vice president owned 36,535 shares in the company, valued at approximately $5,372,106.40. This trade represents a 8.05% 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 have sold a total of 11,325 shares of company stock valued at $1,925,859 over the last three months. Company insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. The Goldman Sachs Group set a $160.00 price objective on Qualcomm in a research note on Thursday, July 30th. Barclays reiterated an "underweight" rating and issued a $180.00 target price on shares of Qualcomm in a research note on Thursday, July 30th. Melius Research set a $220.00 price target on shares of Qualcomm in a report on Monday, May 18th. Craig Hallum lowered shares of Qualcomm from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Finally, Bank of America increased their price objective on shares of Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $203.63.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source