Qualcomm Incorporated $QCOM Stock Holdings Lifted by Saranac Partners Ltd

Saranac Partners Ltd grew its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 42,137 shares of the wireless technology company’s stock after purchasing an additional 11,787 shares during the quarter. Qualcomm makes up 2.8% of Saranac Partners Ltd’s investment portfolio, making the stock its 15th largest position. Saranac Partners Ltd’s holdings in Qualcomm were worth $7,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Qualcomm by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock worth $19,524,350,000 after buying an additional 647,076 shares during the period. Amundi grew its stake in shares of Qualcomm by 9.9% in the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after acquiring an additional 1,138,541 shares during the last quarter. Wellington Management Group LLP increased its position in Qualcomm by 141.8% during the third quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company’s stock worth $2,069,059,000 after acquiring an additional 7,292,783 shares during the period. Invesco Ltd. raised its stake in Qualcomm by 2.3% during the 3rd quarter. Invesco Ltd. now owns 9,874,113 shares of the wireless technology company’s stock valued at $1,642,657,000 after purchasing an additional 220,209 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Qualcomm by 0.4% in the 3rd quarter. Legal & General Group Plc now owns 9,207,183 shares of the wireless technology company’s stock valued at $1,531,707,000 after purchasing an additional 38,452 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Qualcomm Stock Down 3.9%

QCOM opened at $195.61 on Wednesday. The stock’s fifty day simple moving average is $149.89 and its 200 day simple moving average is $157.92. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54. The stock has a market cap of $206.17 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 25.22 and a beta of 1.49. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $247.90.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, research analysts expect that Qualcomm Incorporated will post 7.99 earnings per share for the current year.

Qualcomm announced that its board has authorized a stock repurchase program on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to repurchase up to 14.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Qualcomm Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, June 4th. This is a positive change from Qualcomm’s previous quarterly dividend of $0.89. Qualcomm’s dividend payout ratio is currently 38.70%.

Insider Buying and Selling

In related news, EVP Heather S. Ace sold 3,200 shares of the company’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 owned 39,735 shares of the company’s stock, valued at $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $211.90, for a total transaction of $529,750.00. Following the completion of the transaction, the executive vice president directly owned 28,184 shares in the company, valued at approximately $5,972,189.60. This represents a 8.15% 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 90 days, insiders sold 18,477 shares of company stock valued at $3,268,316. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $140.00 price target (down from $175.00) on shares of Qualcomm in a research note on Thursday, March 26th. Wells Fargo & Company lowered shares of Qualcomm from a “positive” rating to an “underweight” rating in a report on Friday, May 8th. Daiwa Securities Group upgraded Qualcomm from a “neutral” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Friday, May 8th. Craig Hallum upgraded Qualcomm to a “buy” rating in a research report on Friday, May 8th. Finally, Bank of America assumed coverage on Qualcomm in a research note on Tuesday, March 10th. They issued an “underperform” rating and a $145.00 price target for the company. Fourteen research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.79.

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.