Manning & Napier Advisors LLC Cuts Stock Holdings in Qualcomm Incorporated $QCOM

Manning & Napier Advisors LLC reduced its position in Qualcomm Incorporated (NASDAQ:QCOM) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,426 shares of the wireless technology company’s stock after selling 3,795 shares during the period. Manning & Napier Advisors LLC’s holdings in Qualcomm were worth $16,310,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QCOM. BlackRock Inc. bought a new stake in Qualcomm in the 2nd quarter worth about $17,583,115,000. Geode Capital Management LLC grew its stake in shares of 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 worth $4,931,968,000 after acquiring an additional 3,221,924 shares during the period. Wellington Management Group LLP raised its holdings 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 valued at $2,861,301,000 after purchasing an additional 4,290,622 shares during the last quarter. Norges Bank bought a new position in Qualcomm during the fourth quarter valued at approximately $2,591,056,000. Finally, Amundi boosted its holdings in Qualcomm by 9.9% in the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after purchasing an additional 1,138,541 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Melius Research set a $220.00 target price on shares of Qualcomm in a research note on Monday, May 18th. Monness Crespi & Hardt raised shares of Qualcomm to a “buy” rating in a report on Thursday, June 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research report on Wednesday, June 24th. Mizuho lifted their price target on shares of Qualcomm from $170.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, June 29th. Finally, Evercore set a $159.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $203.63.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $158.53 on Tuesday. The company has a market capitalization of $166.49 billion, a P/E ratio of 18.35, a P/E/G ratio of 14.84 and a beta of 1.65. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The firm’s 50 day simple moving average is $177.01 and its two-hundred day simple moving average is $168.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28.

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

Qualcomm Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the sale, the executive vice president 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 sale 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 business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. 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 90 days, insiders sold 11,325 shares of company stock worth $1,925,859. 0.05% of the stock is owned by corporate 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.