Summit Financial LLC Purchases 4,225 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Summit Financial LLC increased its stake in QUALCOMM by 27.1% in the first quarter, owning 19,831 shares worth approximately $3.05 million as of its last filing.
• Various institutional investors have also adjusted their positions, with Vanguard Group Inc. owning the largest share of 114.4 million, which is valued at about $17.57 billion.
• QUALCOMM reported earnings of $2.77 per share for the last quarter, beating estimates, and declared a quarterly dividend of $0.89 per share, representing a yield of 2.3%.

Summit Financial LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,831 shares of the wireless technology company's stock after acquiring an additional 4,225 shares during the period. Summit Financial LLC's holdings in QUALCOMM were worth $3,046,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after buying an additional 105,631 shares in the last quarter. PFG Advisors boosted its position in QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after buying an additional 321 shares in the last quarter. Teza Capital Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in QUALCOMM by 3.3% in the first 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 buying an additional 6,017 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after buying an additional 145,509 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at approximately $6,398,956.70. This represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,390 shares of company stock valued at $1,874,817 over the last ninety days. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 2.5%

Shares of QCOM traded up $3.88 on Friday, reaching $158.01. 7,710,038 shares of the company's stock were exchanged, compared to its average volume of 8,572,686. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $170.49 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. The business has a 50 day moving average price of $155.64 and a two-hundred day moving average price of $153.04. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 34.33%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QCOM. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Bank of America reduced their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI reduced their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $181.10.

About QUALCOMM

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.