Freestone Grove Partners LP Buys 55,495 Shares of Qualcomm Incorporated $QCOM

Freestone Grove Partners LP raised its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 495.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 66,694 shares of the wireless technology company’s stock after buying an additional 55,495 shares during the quarter. Freestone Grove Partners LP’s holdings in Qualcomm were worth $12,324,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. Brighton Jones LLC grew its position in shares of Qualcomm by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Qualcomm by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after acquiring an additional 340 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Qualcomm by 44.3% during the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company’s stock valued at $530,000 after acquiring an additional 1,020 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in Qualcomm by 6.1% in the second quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company’s stock valued at $920,000 after acquiring an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Qualcomm by 9.7% in the second quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company’s stock valued at $1,083,000 after acquiring an additional 603 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at Qualcomm

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at $33,872.80. This represents a 75.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,325 shares of company stock worth $1,925,859 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Qualcomm Trading Up 0.6%

Shares of NASDAQ:QCOM opened at $164.78 on Friday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market cap of $173.06 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 15.11 and a beta of 1.65. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $173.73 and a 200-day moving average price of $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 analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter in the prior year, the company earned $2.77 EPS. Qualcomm’s quarterly revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities analysts predict that Qualcomm Incorporated will post 7.74 EPS for the current year.

Qualcomm Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is 42.59%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QCOM. Tigress Financial upped their price target on Qualcomm from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Craig Hallum cut Qualcomm from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Melius Research set a $220.00 target price on Qualcomm in a research note on Monday, May 18th. Freedom Capital raised Qualcomm from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price target on Qualcomm from $250.00 to $160.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Qualcomm currently has an average rating of “Hold” and an average target price of $203.76.

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.