Truist Financial Corp Increases Stake in Qualcomm Incorporated $QCOM

Key Points

• Truist Financial increased its stake in Qualcomm by 2.8%, buying an additional 28,496 shares to hold 1,032,045 shares worth about $176.53 million (0.10% of the company).
• Qualcomm beat Q2 EPS expectations ($2.65 vs. $2.56) with $10.6B revenue (down 3.5% YoY), but provided a mixed outlook—Q3 EPS guide of $2.10–$2.30 and memory-supply headwinds contrasted with CEO commentary about shipping custom data‑center chips to a large hyperscaler that helped fuel analyst upgrades.
• Management boosted shareholder returns, authorizing a $20 billion buyback (up to ~14.5% of shares) and raising the quarterly dividend to $0.92 (annualized $3.68, ~2.1% yield).

Truist Financial Corp grew its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,032,045 shares of the wireless technology company's stock after buying an additional 28,496 shares during the quarter. Truist Financial Corp owned 0.10% of Qualcomm worth $176,531,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Qualcomm by 0.6% during 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 buying an additional 647,076 shares during the last quarter. Amundi raised its position in Qualcomm by 9.9% during the 3rd quarter. Amundi now owns 12,671,635 shares of the wireless technology company's stock worth $2,136,486,000 after buying an additional 1,138,541 shares during the last quarter. Wellington Management Group LLP raised its position in Qualcomm by 141.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company's stock worth $2,069,059,000 after buying an additional 7,292,783 shares during the last quarter. Invesco Ltd. raised its position in Qualcomm by 2.3% during the 3rd quarter. Invesco Ltd. now owns 9,874,113 shares of the wireless technology company's stock worth $1,642,657,000 after buying an additional 220,209 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Qualcomm by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 9,207,183 shares of the wireless technology company's stock worth $1,531,707,000 after buying an additional 38,452 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $177.00 on Monday. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $205.95. The stock has a market cap of $188.85 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 21.42 and a beta of 1.49. The firm's fifty day simple moving average is $135.69 and its 200-day simple moving average is $155.24. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.Qualcomm's revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Analysts expect that Qualcomm Incorporated will post 8.18 earnings per share for the current fiscal year.

Qualcomm declared that its board has authorized a stock buyback plan on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to repurchase up to 14.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Qualcomm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. Qualcomm's dividend payout ratio (DPR) is presently 40.00%.

Qualcomm News Summary

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Q2 beat and segment strength — Qualcomm topped EPS expectations and showed strong automotive/licensing performance, which supports near‑term earnings quality and helped fuel the recent rally. Qualcomm (QCOM) Posts Stellar Q2
• Positive Sentiment: Data‑center/hyperscaler validation — CEO commentary that Qualcomm will ship custom data‑center chips to a “large hyperscaler” this year materially changed the narrative and underpins hopes for a new, higher‑growth revenue stream. Reuters: Qualcomm shares jump
• Positive Sentiment: Analyst support — Multiple firms raised targets or reaffirmed buy ratings (e.g., Benchmark, Rosenblatt, Summit Insights upgrade), which added fuel to the rally and legitimized the AI/data‑center story. Wall Street Lifts Qualcomm Price Target
• Neutral Sentiment: Technicals and momentum — Chart signals show an overbought setup after the rapid rally; that attracts momentum buyers but raises short‑term pullback risk. Barron's: Technicals
• Neutral Sentiment: Capital returns — Ongoing buyback authorization and a raised quarterly dividend support shareholder returns, a stabilizing factor for valuation. MarketBeat: QCOM summary
• Negative Sentiment: Below‑consensus Q3 guide & memory shortage — Qualcomm guided Q3 revenue/EPS below Street expectations and pointed to a memory supply issue that could pressure handset demand, which triggered the initial post‑earnings weakness. Reuters: Forecast underwhelms
• Negative Sentiment: Insider sale disclosure — A CAO disclosed a small Rule 10b5‑1 sale (192 shares); minimal on its own but noted by some data aggregators amid high‑volume trading. InsiderTrades: Insider sale

Insiders Place Their Bets

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the completion of the transaction, the executive vice president directly owned 30,684 shares in the company, valued at approximately $3,999,352.56. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $137.00, for a total transaction of $438,400.00. Following the transaction, the executive vice president owned 16,393 shares of the company's stock, valued at $2,245,841. This trade represents a 16.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,310 shares of company stock worth $1,266,729. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Seaport Research Partners restated a "sell" rating and set a $100.00 price objective on shares of Qualcomm in a research report on Monday, March 16th. JPMorgan Chase & Co. upped their price objective on shares of Qualcomm from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday. Loop Capital upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research report on Tuesday, February 24th. DZ Bank upgraded shares of Qualcomm to a "strong-buy" rating in a research report on Tuesday, February 10th. Finally, UBS Group upped their price objective on shares of Qualcomm from $150.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $172.40.

Qualcomm Company 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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