Qualcomm Incorporated $QCOM Shares Acquired by Saranac Partners Ltd

Key Points

• Saranac Partners Ltd increased its Qualcomm stake by 38.8% in the fourth quarter, buying 11,787 additional shares and bringing its total to 42,137 shares worth about $7.22 million.
• Wall Street sentiment remains mixed: analysts have an average “Hold” rating on QCOM, though several recently lifted targets or upgraded the stock, including TD Cowen raising its price target to $200 and giving it a buy rating.
• Qualcomm reported better-than-expected quarterly EPS of $2.65, raised its quarterly dividend to $0.92 per share, and approved a $20 billion share repurchase program while insider selling continued during the quarter.

Saranac Partners Ltd raised its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,137 shares of the wireless technology company's stock after purchasing an additional 11,787 shares during the quarter. Qualcomm accounts for 2.8% of Saranac Partners Ltd's investment portfolio, making the stock its 15th biggest holding. Saranac Partners Ltd's holdings in Qualcomm were worth $7,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Greykasell Wealth Strategies Inc. raised its position in Qualcomm by 1.5% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 4,126 shares of the wireless technology company's stock worth $686,000 after buying an additional 61 shares during the last quarter. Certified Advisory Corp boosted its holdings in shares of Qualcomm by 0.6% in the third quarter. Certified Advisory Corp now owns 10,085 shares of the wireless technology company's stock valued at $1,678,000 after acquiring an additional 62 shares in the last quarter. ProVise Management Group LLC increased its stake in shares of Qualcomm by 2.6% during the third quarter. ProVise Management Group LLC now owns 2,560 shares of the wireless technology company's stock worth $426,000 after acquiring an additional 64 shares during the period. Baker Tilly Wealth Management LLC raised its holdings in Qualcomm by 1.0% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 6,401 shares of the wireless technology company's stock worth $1,095,000 after purchasing an additional 64 shares in the last quarter. Finally, Dakota Community Bank & Trust NA raised its holdings in Qualcomm by 3.6% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,847 shares of the wireless technology company's stock worth $316,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. Weiss Ratings reissued a "hold (c)" rating on shares of Qualcomm in a report on Friday, March 27th. Craig Hallum upgraded Qualcomm to a "buy" rating in a research report on Friday, May 8th. Mizuho reduced their target price on Qualcomm from $160.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, February 5th. TD Cowen upped their price target on shares of Qualcomm from $150.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Citigroup raised their price objective on shares of Qualcomm from $140.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Fourteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $181.79.

Insider Buying and Selling at Qualcomm

In related news, CAO Patricia Y. Grech sold 192 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $172.00, for a total value of $33,024.00. The sale was disclosed in a document filed 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 Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $211.90, for a total transaction of $529,750.00. Following the completion of the transaction, the executive vice president owned 28,184 shares of the company's stock, valued at $5,972,189.60. This represents a 8.15% 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 quarter, insiders have sold 18,477 shares of company stock valued at $3,268,316. Corporate insiders own 0.05% of the company's stock.

Qualcomm Trading Down 3.9%

QCOM stock opened at $195.61 on Wednesday. The business has a fifty day simple moving average of $149.89 and a 200-day simple moving average of $157.92. The company has a market cap of $206.17 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 25.22 and a beta of 1.49. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $247.90.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.59 billion. During the same period in the prior year, the company earned $2.85 EPS. The firm's revenue was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities research analysts expect that Qualcomm Incorporated will post 7.99 EPS for the current year.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors 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 represents a $3.68 annualized dividend and a dividend yield of 1.9%. This is an increase from Qualcomm's previous quarterly dividend of $0.89. Qualcomm's dividend payout ratio is currently 38.70%.

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

Qualcomm Company 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.

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.