Canada Pension Plan Investment Board increased its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 36.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,929,860 shares of the wireless technology company's stock after purchasing an additional 783,261 shares during the period. Canada Pension Plan Investment Board owned approximately 0.28% of Qualcomm worth $541,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Qualcomm in the 2nd quarter worth about $17,583,115,000. Norges Bank purchased a new position in shares of Qualcomm during the 4th quarter valued at approximately $2,591,056,000. Bank of New York Mellon Corp acquired a new stake in Qualcomm in the 2nd quarter valued at $1,523,930,000. Deutsche Bank AG acquired a new stake in Qualcomm in the 2nd quarter valued at $1,178,349,000. Finally, Wellington Management Group LLP increased its holdings in Qualcomm by 34.5% in the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after acquiring an additional 4,290,622 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.
Qualcomm Price Performance
QCOM opened at $160.56 on Wednesday. The stock's 50-day moving average price is $175.94 and its 200 day moving average price is $168.28. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The firm has a market cap of $168.62 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 14.63 and a beta of 1.65. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46.
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 the consensus estimate 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 net margin of 21.01% and a return on equity of 38.36%. The business's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, sell-side analysts expect that Qualcomm Incorporated will post 7.74 earnings per share for the current year.
Qualcomm Dividend Announcement
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 is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm's payout ratio is 42.59%.
Insider Buying and Selling
In related news, CAO Patricia Y. Grech sold 625 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at $33,872.80. This represents a 75.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares of the company's stock, valued at $5,372,106.40. This represents a 8.05% decrease in their position. 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. Insiders have sold a total of 11,325 shares of company stock valued at $1,925,859 in the last ninety days. Company insiders own 0.05% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on QCOM. Mizuho lifted their target price on shares of Qualcomm from $170.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, June 29th. Monness Crespi & Hardt upgraded shares of Qualcomm to a "buy" rating in a research report on Thursday, June 25th. Citigroup lowered their price objective on Qualcomm from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Evercore set a $159.00 price objective on Qualcomm in a research note on Thursday, July 30th. Finally, Zacks Research raised Qualcomm from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Qualcomm currently has an average rating of "Hold" and a consensus target price of $203.76.
Check Out Our Latest Stock Analysis on Qualcomm
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.
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