Summit Global Investments Purchases New Shares in Qualcomm Incorporated $QCOM

Key Points

• Summit Global Investments initiated a Qualcomm position by purchasing 9,690 shares worth approximately $1.79 million in the second quarter. Institutional investors and hedge funds collectively own 74.35% of Qualcomm.
• Qualcomm shares opened at $160.19, down 1.2%, after the company reported quarterly EPS of $2.21, slightly below estimates, while revenue of $9.95 billion exceeded expectations and declined 4% year over year.
• Qualcomm declared a quarterly dividend of $0.92 per share, implying an annualized payout of $3.68 and a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $203.63.

Summit Global Investments purchased a new position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,690 shares of the wireless technology company's stock, valued at approximately $1,791,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Qualcomm by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company's stock worth $19,524,350,000 after purchasing an additional 647,076 shares during the period. Geode Capital Management LLC grew its position in Qualcomm by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company's stock worth $4,931,968,000 after purchasing an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP raised its stake in Qualcomm by 34.5% during 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 purchasing an additional 4,290,622 shares during the period. Norges Bank acquired a new stake in Qualcomm during the 4th quarter valued at $2,591,056,000. Finally, Amundi lifted its holdings 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 purchasing an additional 1,138,541 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the transaction, the executive vice president owned 20,684 shares of the company's stock, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their position. The transaction was disclosed in a document filed 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, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is owned by insiders.

Qualcomm Trading Down 1.2%

NASDAQ:QCOM opened at $160.19 on Wednesday. The company's 50 day moving average is $180.71 and its 200-day moving average is $167.93. The company has a quick ratio of 1.28, a current ratio of 2.02 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 firm has a market cap of $168.24 billion, a price-to-earnings ratio of 18.54, 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.Qualcomm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities analysts anticipate that Qualcomm Incorporated will post 7.76 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm's dividend payout ratio is 42.59%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Rosenblatt Securities decreased their target price on Qualcomm from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Summit Insights raised Qualcomm from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Argus set a $220.00 price objective on Qualcomm in a research note on Friday, May 1st. Zacks Research upgraded Qualcomm from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Qualcomm in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $203.63.

Qualcomm 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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