Korea Investment CORP Decreases Position in Qualcomm Incorporated $QCOM

Korea Investment CORP reduced its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 1.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 703,649 shares of the wireless technology company’s stock after selling 10,062 shares during the quarter. Korea Investment CORP’s holdings in Qualcomm were worth $130,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Qualcomm during the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd boosted its stake in Qualcomm by 17,000.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after purchasing an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new stake in Qualcomm during the 4th quarter worth approximately $31,000. Commonwealth Retirement Investments LLC purchased a new stake in Qualcomm during the 4th quarter worth approximately $32,000. Finally, Your Advocates Ltd. LLP acquired a new position in Qualcomm during the 1st quarter valued at approximately $26,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Craig Hallum cut shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. The Goldman Sachs Group set a $160.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Monness Crespi & Hardt raised Qualcomm to a “buy” rating in a research report on Thursday, June 25th. Susquehanna reduced their target price on Qualcomm from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Rosenblatt Securities lowered their price target on Qualcomm from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $203.63.

Qualcomm Trading Up 0.0%

Shares of NASDAQ:QCOM opened at $160.75 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The business has a 50 day moving average of $178.26 and a two-hundred day moving average of $168.01. The company has a market capitalization of $168.82 billion, a PE ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.Qualcomm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, analysts forecast that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s dividend payout ratio (DPR) is currently 42.59%.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction 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 completion of the transaction, the executive vice president owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the transaction, the executive vice president owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,325 shares of company stock worth $1,925,859. 0.05% of the stock is owned by company insiders.

Qualcomm Company 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.