Qualcomm Incorporated $QCOM Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 366,695 shares of the wireless technology company’s stock after selling 9,388 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Qualcomm were worth $62,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in Qualcomm by 141.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,437,240 shares of the wireless technology company’s stock valued at $2,069,059,000 after purchasing an additional 7,292,783 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Qualcomm by 36.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,552,427 shares of the wireless technology company’s stock worth $1,090,025,000 after purchasing an additional 1,764,252 shares during the period. Viking Global Investors LP boosted its position in Qualcomm by 120.1% in the second quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company’s stock valued at $502,125,000 after buying an additional 1,720,529 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in Qualcomm by 59.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 4,418,406 shares of the wireless technology company’s stock worth $703,675,000 after buying an additional 1,641,068 shares during the period. Finally, Van ECK Associates Corp raised its position in Qualcomm by 18.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,050,717 shares of the wireless technology company’s stock worth $1,505,677,000 after buying an additional 1,397,466 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $130.34, for a total transaction of $325,850.00. Following the completion of the sale, the executive vice president owned 30,684 shares of the company’s stock, valued at $3,999,352.56. The trade was a 7.53% 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 Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $137.00, for a total value of $438,400.00. Following the completion of the sale, the executive vice president owned 16,393 shares in the company, valued at approximately $2,245,841. The trade was a 16.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 9,118 shares of company stock worth $1,233,705. Company insiders own 0.05% of the company’s stock.

Qualcomm Stock Performance

NASDAQ QCOM opened at $165.58 on Thursday. The stock has a market capitalization of $176.67 billion, a price-to-earnings ratio of 34.04 and a beta of 1.28. The stock has a 50-day moving average of $134.93 and a 200 day moving average of $155.16. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 0.64. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $205.95.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.59 billion. Qualcomm had a return on equity of 44.09% and a net margin of 11.96%.The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Sell-side analysts anticipate that Qualcomm Incorporated will post 8.21 EPS for the current fiscal year.

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

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Qualcomm’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm’s payout ratio is 73.55%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays reaffirmed an “underweight” rating and issued a $150.00 price objective on shares of Qualcomm in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $190.00 price objective on shares of Qualcomm in a report on Thursday. Daiwa Securities Group lowered Qualcomm from an “outperform” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Wednesday, February 11th. Robert W. Baird set a $177.00 price target on Qualcomm in a report on Thursday, February 5th. Finally, Evercore dropped their price objective on shares of Qualcomm from $157.00 to $134.00 and set an “in-line” rating on the stock in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $158.04.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: CEO said Qualcomm will begin shipping custom data?center chips to a “large hyperscaler” this calendar year, reviving hopes for a material new revenue stream and helping offset concern about near?term weakness. Read More.
• Positive Sentiment: Quarterly results: non?GAAP EPS of $2.65 beat consensus and came at the high end of guidance; revenue was essentially in line (~$10.6B). The beat helped spark the rebound after an early selloff. Read More.
• Positive Sentiment: Short?term upgrade: Summit Insights moved the stock from “hold” to “buy,” supporting demand from some traders. (Upgrade reported in market feeds.)
• Neutral Sentiment: Company filed its earnings release and slide deck on the IR site and held the conference call/transcript that managers used to highlight strategy and product timing. Investors are parsing the slides for cadence of data?center and handset recoveries. Read More.
• Negative Sentiment: Q3 guidance disappointed: Qualcomm guided to $9.2B–$10.0B revenue and $2.10–$2.30 adj. EPS, below Street revenue/consensus EPS — this drove the initial selloff and signals near?term headwinds. Read More.
• Negative Sentiment: Memory supply shortages and weaker handset demand pressured revenue (handset revenue declines noted y/y), limiting near?term visibility for semiconductor customers. Management called the memory crunch the main drag. Read More.
• Negative Sentiment: Analyst estimate moves: some shops trimmed FY estimates (Erste Group among them) and several price targets remain below current levels, highlighting differing views on the timing of the recovery. Read More.
• Negative Sentiment: Volatility: shares initially dropped on the weak guide before rallying on the hyperscaler/data?center comments — expect continued headline?driven swings as the market evaluates execution and timing. Read More.

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.