Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in QUALCOMM Incorporated $QCOM

Key Points

• Sumitomo Mitsui Trust Group Inc. has reduced its stake in QUALCOMM by 0.9%, now holding approximately 3.5 million shares valued at about $559 million.
• Other hedge funds are actively adjusting their positions in QUALCOMM, with CORDA Investment Management LLC increasing its stake by 18.6% recently.
• QUALCOMM has announced a quarterly dividend of $0.89 per share, with an ex-dividend date set for December 4th, yielding 2.1% annually.

Sumitomo Mitsui Trust Group Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,510,307 shares of the wireless technology company's stock after selling 31,354 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.32% of QUALCOMM worth $559,051,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CORDA Investment Management LLC. increased its stake in shares of QUALCOMM by 18.6% during the 2nd quarter. CORDA Investment Management LLC. now owns 22,474 shares of the wireless technology company's stock worth $3,579,000 after purchasing an additional 3,524 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after purchasing an additional 105,631 shares during the last quarter. PFG Advisors boosted its holdings in shares of QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after purchasing an additional 321 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after acquiring an additional 6,017 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of QUALCOMM by 12.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after acquiring an additional 145,509 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.7%

QUALCOMM stock opened at $171.18 on Friday. The firm has a market cap of $184.71 billion, a PE ratio of 16.51, a P/E/G ratio of 2.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm's 50 day moving average price is $163.18 and its two-hundred day moving average price is $154.60. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business earned $2.33 EPS. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.1%. QUALCOMM's dividend payout ratio is 34.33%.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 791 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the sale, the chief accounting officer directly owned 1,106 shares of the company's stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,102 shares of company stock worth $27,706,855 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on QCOM shares. UBS Group boosted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research report on Tuesday, August 26th. Mizuho lowered their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Piper Sandler reduced their price target on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $183.27.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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