Qualcomm Incorporated $QCOM Shares Bought by Van ECK Associates Corp

Key Points

• Van ECK Associates increased its Qualcomm stake by 22.7% in the second quarter, acquiring 3.18 million additional shares and bringing its holdings to 17.2 million shares valued at approximately $3.18 billion.
• Qualcomm reported quarterly EPS of $2.21, slightly below estimates, while revenue of $9.95 billion exceeded expectations; revenue declined 4% year over year. The company also announced a quarterly dividend of $0.92 per share, yielding about 2.2% annually.
• Wall Street’s consensus rating is “Hold”, with an average price target of $203.76 versus the reported share price of $164.19. Institutional investors own 74.35% of Qualcomm, while recent insider activity has been limited to stock sales under pre-arranged trading plans.

Van ECK Associates Corp grew its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 22.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,202,619 shares of the wireless technology company's stock after acquiring an additional 3,179,720 shares during the period. Qualcomm comprises 2.0% of Van ECK Associates Corp's portfolio, making the stock its 13th largest holding. Van ECK Associates Corp owned 1.64% of Qualcomm worth $3,178,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Qualcomm during the 2nd quarter worth approximately $17,583,115,000. Geode Capital Management LLC lifted its holdings in shares of Qualcomm by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock valued at $4,931,968,000 after buying an additional 3,221,924 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $2,861,301,000 after buying an additional 4,290,622 shares during the period. Norges Bank purchased a new stake in shares of Qualcomm in the fourth quarter valued at approximately $2,591,056,000. Finally, Amundi boosted its stake in shares of Qualcomm by 9.9% in the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock valued at $2,136,486,000 after buying an additional 1,138,541 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Stock Performance

Shares of QCOM stock opened at $164.19 on Friday. The stock has a fifty day moving average price of $172.49 and a 200 day moving average price of $168.64. The stock has a market cap of $172.44 billion, a PE ratio of 19.00, a P/E/G ratio of 15.21 and a beta of 1.65. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal 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 given a $0.92 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm's payout ratio is currently 42.59%.

Insider Buying and Selling

In related news, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total value of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $33,872.80. This represents a 75.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the transaction, the executive vice president owned 20,684 shares of the company's stock, valued at $3,376,869.84. This trade represents a 10.78% decrease in their ownership of the stock. 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 11,325 shares of company stock worth $1,925,859 in the last three months. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. Raymond James Financial began coverage on Qualcomm in a research report on Thursday, June 25th. They issued a "strong-buy" rating for the company. Lake Street Capital lowered shares of Qualcomm to a "hold" rating in a research report on Thursday, June 25th. HSBC reaffirmed a "hold" rating on shares of Qualcomm in a research note on Wednesday, July 15th. Bank of America increased their price target on shares of Qualcomm from $165.00 to $195.00 and gave the company an "underperform" rating in a report on Tuesday, June 23rd. Finally, Tigress Financial raised their price objective on shares of Qualcomm from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $203.76.

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.

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