QRG Capital Management Inc. Increases Holdings in Qualcomm Incorporated $QCOM

QRG Capital Management Inc. raised its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 12.7% in the second quarter, HoldingsChannel reports. The firm owned 204,726 shares of the wireless technology company’s stock after buying an additional 23,009 shares during the quarter. QRG Capital Management Inc.’s holdings in Qualcomm were worth $37,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Qualcomm by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock valued at $19,524,350,000 after buying an additional 647,076 shares during the period. Geode Capital Management LLC lifted its stake in Qualcomm by 12.5% in 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 acquiring an additional 3,221,924 shares during the period. Wellington Management Group LLP boosted its holdings in Qualcomm by 34.5% in the fourth 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 acquiring an additional 4,290,622 shares in the last quarter. Norges Bank purchased a new position in Qualcomm during the 4th quarter valued at $2,591,056,000. Finally, Amundi increased 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 valued at $2,136,486,000 after purchasing an additional 1,138,541 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares of the company’s stock, valued at $5,372,106.40. This represents a 8.05% 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. Insiders sold a total of 11,529 shares of company stock valued at $1,991,345 in the last three months. Company insiders own 0.05% of the company’s stock.

Qualcomm Price Performance

QCOM opened at $165.79 on Friday. The stock has a fifty day simple moving average of $182.72 and a two-hundred day simple moving average of $167.72. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $174.12 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 15.16 and a beta of 1.65. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.69 billion. During the same period in the prior year, the business posted $2.77 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Research analysts predict that Qualcomm Incorporated will post 7.76 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio (DPR) is 42.59%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America upped their price objective on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a report on Tuesday, June 23rd. Roth Capital began coverage on shares of Qualcomm in a research note on Friday, May 8th. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Qualcomm from $160.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Daiwa Securities Group raised shares of Qualcomm from a “neutral” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Friday, May 8th. Finally, Citigroup lowered their price objective on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $203.63.

About Qualcomm

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.