Cary Street Partners Financial LLC trimmed its holdings in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 27.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,271 shares of the wireless technology company's stock after selling 27,864 shares during the quarter. Cary Street Partners Financial LLC's holdings in Qualcomm were worth $13,540,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its holdings in Qualcomm by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after acquiring an additional 647,076 shares during the period. Geode Capital Management LLC raised its position in Qualcomm by 12.5% during the fourth 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 acquiring an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP raised its position in 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. Norges Bank acquired a new position in Qualcomm in the fourth quarter valued at approximately $2,591,056,000. Finally, Amundi lifted its holdings in 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 acquiring an additional 1,138,541 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
QCOM has been the topic of a number of analyst reports. Sanford C. Bernstein set a $165.00 price objective on shares of Qualcomm in a research note on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a report on Friday, June 5th. Rosenblatt Securities decreased their target price on shares of Qualcomm from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Tigress Financial increased their price target on shares of Qualcomm from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $160.00 price target on shares of Qualcomm in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Qualcomm currently has an average rating of "Hold" and a consensus price target of $203.63.
Check Out Our Latest Stock Analysis on Qualcomm
Insider Buying and Selling
In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 36,535 shares of the company's stock, valued at $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of Qualcomm stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. 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. In the last quarter, insiders sold 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is owned by corporate insiders.
Qualcomm Stock Performance
Shares of QCOM stock opened at $162.18 on Tuesday. 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 Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The business's 50 day moving average is $181.61 and its two-hundred day moving average is $167.88. The company has a market capitalization of $170.33 billion, a P/E ratio of 18.77, a P/E/G ratio of 15.25 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts expect that Qualcomm Incorporated will post 7.76 EPS for the current fiscal year.
Qualcomm Announces Dividend
The business also recently declared 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. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's payout ratio is presently 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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