Qualcomm Incorporated $QCOM Holdings Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,084,366 shares of the wireless technology company’s stock after purchasing an additional 93,879 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Qualcomm worth $199,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Qualcomm during the 2nd quarter worth about $17,583,115,000. State Street Corp raised its holdings in Qualcomm by 1.3% during the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock worth $9,750,123,000 after purchasing an additional 671,537 shares in the last quarter. Van ECK Associates Corp raised its holdings in Qualcomm by 22.7% during the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after purchasing an additional 3,179,720 shares in the last quarter. Amundi lifted its position in Qualcomm by 94.1% in the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after purchasing an additional 4,942,908 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Qualcomm during the 2nd quarter valued at $1,523,930,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on QCOM shares. Morgan Stanley dropped their price objective on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. UBS Group cut their price target on shares of Qualcomm from $185.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. TD Cowen lowered their price objective on shares of Qualcomm from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Wells Fargo & Company cut their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Finally, Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $197.13.

Insider Buying and Selling

In other news, CEO Cristiano Amon sold 10,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief executive officer owned 177,568 shares in the company, valued at $35,513,600. This represents a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Akash Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total value of $437,650.00. Following the transaction, the executive vice president owned 20,799 shares in the company, valued at $3,641,072.94. This represents a 10.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 32,520 shares of company stock valued at $6,101,411. 0.05% of the stock is currently owned by company insiders.

Qualcomm Stock Up 0.3%

QCOM stock opened at $177.14 on Friday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company’s 50 day simple moving average is $178.65 and its 200-day simple moving average is $169.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. The firm has a market capitalization of $189.54 billion, a P/E ratio of 13.95, a P/E/G ratio of 2.07 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Qualcomm Incorporated will post 6.75 EPS for the current year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s payout ratio is 28.98%.

More Qualcomm News

These are some of the QCOM news items that stood out recently:

• Positive Sentiment: CEO Cristiano Amon defended Qualcomm’s data-center opportunity, expressing confidence in targets of $5 billion in fiscal 2027 sales and $15 billion by fiscal 2029. If achieved, the business could diversify revenue beyond smartphones. Qualcomm CEO on data-center goal
• Positive Sentiment: Qualcomm’s 5G partnership with SpaceX could create a new opportunity in network equipment. Amon called it a partnership that could drive innovation, though its commercial impact is not yet clear. Qualcomm CEO on SpaceX deal
• Negative Sentiment: Despite a quarterly earnings beat, reports cited handset weakness and uncertainty around data-center growth in explaining a sharp recent selloff. Investors are also weighing customer concentration, investment needs and potential margin pressure as Qualcomm ramps its data-center business. Qualcomm selloff and uncertainty

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.