Cullinan Associates Inc. Has $9.19 Million Stock Position in Qualcomm Incorporated $QCOM

Cullinan Associates Inc. lessened its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 7.0% during the second quarter, Holdings Channel.com reports. The firm owned 49,744 shares of the wireless technology company’s stock after selling 3,728 shares during the period. Cullinan Associates Inc.’s holdings in Qualcomm were worth $9,192,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Qualcomm during the 2nd quarter worth approximately $17,583,115,000. Norges Bank acquired a new stake in Qualcomm in the fourth quarter valued at approximately $2,591,056,000. Bank of New York Mellon Corp bought a new stake in shares of Qualcomm during the second quarter valued at approximately $1,523,930,000. Deutsche Bank AG bought a new stake in shares of Qualcomm during the second quarter valued at approximately $1,178,349,000. Finally, Wellington Management Group LLP raised its position in shares of Qualcomm by 34.5% during the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Qualcomm Stock Down 0.4%

Shares of NASDAQ:QCOM opened at $164.19 on Friday. The business’s 50 day moving average is $172.49 and its 200 day moving average is $168.64. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The stock has a market cap of $172.44 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 15.16 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.

Qualcomm (NASDAQ:QCOM) last released its quarterly 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 company 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 company posted $2.77 earnings per share. The company’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. On average, sell-side analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal 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 $0.92 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio is currently 42.59%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price on Qualcomm from $250.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Zacks Research upgraded shares of Qualcomm from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Barclays reiterated an “underweight” rating and set a $180.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Finally, Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Qualcomm presently has an average rating of “Hold” and an average target price of $203.76.

Insider Activity at Qualcomm

In related news, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction on Friday, August 21st. The stock was sold at an average price of $162.85, for a total transaction of $101,781.25. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total value of $452,025.00. Following the completion of the transaction, the executive vice president directly owned 23,184 shares in the company, valued at approximately $4,191,899.04. This represents a 9.73% 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. Insiders have sold 11,325 shares of company stock valued at $1,925,859 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

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.