VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 128,379 Qualcomm Incorporated $QCOM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM) during the second quarter, HoldingsChannel reports. The institutional investor bought 128,379 shares of the wireless technology company’s stock, valued at approximately $23,723,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baxter Bros Inc. acquired a new stake in shares of Qualcomm during the second quarter valued at about $17,844,000. MUFG Securities EMEA plc lifted its stake in shares of Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company’s stock worth $7,524,000 after acquiring an additional 23,262 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in shares of Qualcomm by 6.1% in the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company’s stock worth $6,844,000 after acquiring an additional 2,288 shares in the last quarter. Western Wealth Management LLC boosted its holdings in Qualcomm by 16.9% in the fourth quarter. Western Wealth Management LLC now owns 20,682 shares of the wireless technology company’s stock valued at $3,538,000 after purchasing an additional 2,990 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new position in Qualcomm in the fourth quarter valued at about $700,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Qualcomm Price Performance

NASDAQ:QCOM opened at $168.74 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The company has a market capitalization of $177.22 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 3.52 and a beta of 1.68. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The stock has a 50-day simple moving average of $168.65 and a 200 day simple moving average of $170.04.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (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 analyst estimates of $9.69 billion. During the same quarter in the previous year, the company earned $2.77 EPS. The company’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. Sell-side analysts predict that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s payout ratio is 42.59%.

Insider Activity at Qualcomm

In other news, CAO Patricia Y. Grech sold 208 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $170.00, for a total value of $35,360.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the transaction, the executive vice president directly owned 20,684 shares of the company’s stock, valued at $3,376,869.84. This trade represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 11,533 shares of company stock valued at $1,961,219. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird set a $400.00 price objective on Qualcomm in a research note on Thursday, July 30th. Sanford C. Bernstein set a $165.00 target price on Qualcomm in a research report on Thursday, July 30th. Benchmark reduced their target price on Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Oppenheimer set a $200.00 price target on shares of Qualcomm in a research report on Monday, July 27th. Finally, Melius Research set a $220.00 price target on shares of Qualcomm in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $203.76.

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.