Welch Group LLC Has $53.78 Million Position in Qualcomm Incorporated $QCOM

Key Points

• Welch Group LLC increased its Qualcomm stake by 8.1% in Q1, ending with 417,596 shares valued at about $53.8 million. Qualcomm now makes up roughly 2.0% of the firm’s portfolio.
• Qualcomm is pushing beyond smartphones, raising its fiscal 2029 non-handset revenue target to $40 billion and saying its data center business could exceed $15 billion by then. The company also said Meta and Microsoft are early customers for its data center CPUs, supporting its AI infrastructure strategy.
• Analysts have grown more optimistic after the update, with several firms lifting price targets and DZ Bank upgrading Qualcomm to buy. Even so, the stock still carries a consensus rating of Hold despite the bullish revisions.

Welch Group LLC grew its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,596 shares of the wireless technology company's stock after acquiring an additional 31,192 shares during the period. Qualcomm comprises about 2.0% of Welch Group LLC's portfolio, making the stock its 24th largest holding. Welch Group LLC's holdings in Qualcomm were worth $53,778,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 valued at $19,524,350,000 after purchasing an additional 647,076 shares during the last quarter. Geode Capital Management LLC grew its holdings in Qualcomm by 12.5% during the fourth 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 during the period. Wellington Management Group LLP increased its position in Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after buying an additional 4,290,622 shares during the last quarter. Norges Bank acquired a new position in Qualcomm during the fourth quarter worth approximately $2,591,056,000. Finally, Amundi raised its stake in 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 buying an additional 1,138,541 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

More Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm raised its fiscal 2029 non-handset revenue target to $40 billion from $22 billion and said its data center business could exceed $15 billion by 2029, reinforcing the company’s push beyond smartphone chips.
• Positive Sentiment: The company said Meta and Microsoft are early customers for its data center CPUs, giving investors outside validation for Qualcomm’s AI infrastructure strategy and helping the market see a clearer growth path.
• Positive Sentiment: Analysts turned more bullish after the update, with multiple firms raising price targets and DZ Bank upgrading Qualcomm from hold to buy, suggesting Wall Street is warming to the diversification story.
• Positive Sentiment: Qualcomm also announced a $3.9 billion acquisition of Modular, which should strengthen its AI software stack and improve its ability to compete in cloud and edge AI workloads.
• Neutral Sentiment: Commentary pieces from outlets like Seeking Alpha and 247WallSt argue the market may still be misunderstanding Qualcomm’s AI pivot, but these are opinion-driven and less directly market-moving.
• Negative Sentiment: Despite the upbeat guidance, investors may still worry that much of the promised AI chip revenue is years away and that execution risk remains high, especially as Qualcomm transitions away from its handset-heavy mix.

Analyst Ratings Changes

A number of analysts have recently issued reports on QCOM shares. Daiwa Securities Group raised Qualcomm from a "neutral" rating to an "outperform" rating and set a $225.00 price objective for the company in a research report on Friday, May 8th. Bank of America boosted their target price on Qualcomm from $165.00 to $195.00 and gave the stock an "underperform" rating in a report on Tuesday. Guggenheim set a $200.00 price target on Qualcomm in a research note on Monday. Sanford C. Bernstein raised their price target on Qualcomm from $140.00 to $235.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Cantor Fitzgerald set a $220.00 price objective on shares of Qualcomm and gave the stock a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $218.03.

Qualcomm Trading Down 7.6%

Shares of NASDAQ:QCOM opened at $189.39 on Friday. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The stock has a market cap of $199.62 billion, a PE ratio of 20.59, a P/E/G ratio of 25.46 and a beta of 1.59. The business has a 50 day moving average of $201.08 and a 200-day moving average of $167.84. 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 announced its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.09. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.97 earnings per share for the current year.

Qualcomm Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.92 per share. This is an increase from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 4th. Qualcomm's payout ratio is 40.00%.

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

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $197.35, for a total value of $493,375.00. Following the completion of the sale, the executive vice president owned 25,684 shares in the company, valued at $5,068,737.40. The trade was a 8.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares of the company's stock, valued at $7,065,677.70. This represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 21,806 shares of company stock worth $3,928,958. Insiders own 0.05% of the company's stock.

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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