Synovus Financial Corp Raises Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Synovus Financial Corp increased its stake in QUALCOMM Incorporated by 56.8%, owning 80,807 shares valued at approximately $12.4 million as of the latest quarter.
• Other hedge funds, including Vanguard Group Inc. and Northern Trust Corp, also raised their holdings, indicating growing institutional interest in QUALCOMM.
• QUALCOMM's recent quarterly earnings showed an EPS of $2.77, surpassing estimates, with a net margin of 26.77% and revenue up 10.4% year-over-year.

Synovus Financial Corp boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,807 shares of the wireless technology company's stock after purchasing an additional 29,288 shares during the period. Synovus Financial Corp's holdings in QUALCOMM were worth $12,413,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in QUALCOMM by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock worth $17,568,141,000 after buying an additional 638,284 shares during the period. Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of QUALCOMM by 2.2% in the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock valued at $1,512,458,000 after buying an additional 215,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of QUALCOMM by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company's stock worth $1,441,847,000 after buying an additional 471,648 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock opened at $158.01 on Friday. The stock has a market capitalization of $170.49 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.30 and a beta of 1.23. The company's fifty day moving average price is $155.64 and its 200 day moving average price is $153.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) 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 business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm posted $2.33 earnings per share. The company's revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business 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 $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. lifted their price target on 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 decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, July 31st. Finally, Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $181.10.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the sale, the chief financial officer directly owned 43,207 shares in the company, valued at approximately $6,398,956.70. The trade was a 7.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 791 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $154.82, for a total value of $122,462.62. Following the transaction, the chief accounting officer directly owned 1,106 shares of the company's stock, valued at $171,230.92. The trade was a 41.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,390 shares of company stock worth $1,874,817. Insiders own 0.08% of the company's stock.

QUALCOMM 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.