Oppenheimer Asset Management Inc. Buys Shares of 88,462 Qualcomm Incorporated $QCOM

Oppenheimer Asset Management Inc. purchased a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 88,462 shares of the wireless technology company’s stock, valued at approximately $16,347,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Qualcomm by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock worth $19,524,350,000 after buying an additional 647,076 shares during the last quarter. Geode Capital Management LLC raised its stake in Qualcomm by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock valued at $4,931,968,000 after buying an additional 3,221,924 shares during the last quarter. Wellington Management Group LLP raised its stake in Qualcomm by 34.5% in the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock valued at $2,861,301,000 after buying an additional 4,290,622 shares during the last quarter. Norges Bank acquired a new stake in Qualcomm in the fourth quarter worth about $2,591,056,000. Finally, Amundi grew its stake in shares of Qualcomm by 9.9% during the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after acquiring an additional 1,138,541 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. The sale was disclosed in a filing with the SEC, which is available 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 dated 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 directly owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,529 shares of company stock valued at $1,991,345 over the last 90 days. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. Craig Hallum downgraded shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Wells Fargo & Company lowered their target price on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Robert W. Baird set a $400.00 target price on shares of Qualcomm in a research report on Thursday, July 30th. Mizuho upped their price target on shares of Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. Finally, Evercore set a $159.00 price target on shares of Qualcomm in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Qualcomm has a consensus rating of “Hold” and an average price target of $203.63.

Qualcomm Trading Down 1.2%

Shares of NASDAQ:QCOM opened at $160.19 on Wednesday. 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 Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market cap of $168.24 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 15.25 and a beta of 1.65. The business has a 50-day moving average price of $180.71 and a 200-day moving average price of $167.93.

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 7.76 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 paid a $0.92 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm’s dividend payout ratio is presently 42.59%.

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.