Primecap Management Co. CA Trims Stake in QUALCOMM Incorporated $QCOM

Primecap Management Co. CA lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,383,567 shares of the wireless technology company’s stock after selling 370,465 shares during the quarter. Primecap Management Co. CA owned approximately 0.31% of QUALCOMM worth $538,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of QCOM. Traub Capital Management LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter worth $63,000. Wealthspire Advisors LLC grew its holdings in QUALCOMM by 7.0% in the second quarter. Wealthspire Advisors LLC now owns 12,701 shares of the wireless technology company’s stock valued at $2,023,000 after purchasing an additional 831 shares during the last quarter. Purus Wealth Management LLC increased its position in shares of QUALCOMM by 8.7% in the second quarter. Purus Wealth Management LLC now owns 2,561 shares of the wireless technology company’s stock valued at $408,000 after buying an additional 205 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of QUALCOMM by 63.0% in the 2nd quarter. Inspire Advisors LLC now owns 7,424 shares of the wireless technology company’s stock worth $1,182,000 after buying an additional 2,869 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in QUALCOMM by 15.9% in the 2nd quarter. Empowered Funds LLC now owns 309,360 shares of the wireless technology company’s stock valued at $49,269,000 after acquiring an additional 42,525 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In related news, CAO Patricia Y. Grech sold 203 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $172.87, for a total transaction of $35,092.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total transaction of $122,462.62. Following the sale, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 168,305 shares of company stock worth $27,858,392. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, November 6th. TD Cowen upped their target price on shares of QUALCOMM from $185.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Mizuho upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Piper Sandler boosted their price target on QUALCOMM from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

QUALCOMM Trading Down 1.0%

QCOM opened at $165.06 on Wednesday. The firm has a market capitalization of $176.78 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.59 and a beta of 1.26. The firm’s 50 day moving average is $169.21 and its 200-day moving average is $159.48. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 5th. The wireless technology company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.13. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $10.74 billion. During the same quarter in the previous year, the firm posted $2.69 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. QUALCOMM has set its Q1 2026 guidance at 3.300-3.500 EPS. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is 72.80%.

About QUALCOMM

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.