Public Employees Retirement System of Ohio Lowers Holdings in Qualcomm Incorporated $QCOM

Public Employees Retirement System of Ohio reduced its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 10.1% in the second quarter, Holdings Channel reports. The firm owned 432,733 shares of the wireless technology company’s stock after selling 48,603 shares during the period. Public Employees Retirement System of Ohio’s holdings in Qualcomm were worth $79,965,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Baxter Bros Inc. bought a new position in shares of Qualcomm in the second quarter worth approximately $17,844,000. MUFG Securities EMEA plc grew its stake in Qualcomm by 112.2% in the 4th quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company’s stock worth $7,524,000 after buying an additional 23,262 shares in the last quarter. Swedbank AB increased its holdings in shares of Qualcomm by 1.5% in the 4th quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company’s stock worth $262,291,000 after buying an additional 23,110 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Qualcomm by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company’s stock valued at $24,578,000 after buying an additional 7,804 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its holdings in shares of Qualcomm by 6.1% during the 4th 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 during the last quarter. Institutional investors own 74.35% of the company’s stock.

Qualcomm Price Performance

Shares of Qualcomm stock opened at $164.78 on Friday. The stock has a market capitalization of $173.06 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 15.11 and a beta of 1.65. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The business’s 50 day simple moving average is $173.73 and its two-hundred day simple moving average is $168.67.

Qualcomm (NASDAQ:QCOM) last issued its earnings results 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 return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same period in the previous year, the firm earned $2.77 earnings per share. The firm’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. Analysts forecast that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. 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 dividend payout ratio is currently 42.59%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Robert W. Baird set a $400.00 target price on Qualcomm in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price objective on shares of Qualcomm in a research report on Thursday, April 30th. Mizuho boosted their target price on Qualcomm from $170.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Morgan Stanley reduced their price target on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Finally, Craig Hallum lowered shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Qualcomm presently has a consensus rating of “Hold” and a consensus target price of $203.76.

Insider Buying and Selling

In other Qualcomm news, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the transaction, the executive vice president directly owned 20,684 shares in the company, 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. Insiders have sold 11,325 shares of company stock valued at $1,925,859 over the last ninety days. 0.05% of the stock is owned by insiders.

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.