Legal & General Group Plc Lowers Stock Position in Qualcomm Incorporated $QCOM

Legal & General Group Plc lessened its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 1.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,416,114 shares of the wireless technology company’s stock after selling 132,425 shares during the period. Legal & General Group Plc’s holdings in Qualcomm were worth $1,740,006,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Qualcomm during the second quarter worth approximately $17,583,115,000. Norges Bank purchased a new stake in shares of Qualcomm in the fourth quarter valued at approximately $2,591,056,000. Bank of New York Mellon Corp acquired a new position in shares of Qualcomm during the 2nd quarter worth approximately $1,523,930,000. Deutsche Bank AG acquired a new position in shares of Qualcomm during the 2nd quarter worth approximately $1,178,349,000. Finally, Wellington Management Group LLP lifted its position in shares of Qualcomm by 34.5% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at Qualcomm

In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares in the company, valued at $3,376,869.84. This represents a 10.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 208 shares of the company’s stock, valued at $33,872.80. This trade 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. Over the last 90 days, insiders sold 11,325 shares of company stock valued at $1,925,859. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QCOM. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price objective on shares of Qualcomm in a report on Thursday, April 30th. Benchmark reduced their price target on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Wells Fargo & Company lowered their price objective on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Finally, Craig Hallum cut Qualcomm from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $203.76.

Qualcomm Price Performance

Shares of NASDAQ QCOM opened at $160.56 on Wednesday. The firm has a 50-day simple moving average of $175.94 and a 200-day simple moving average of $168.28. 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 stock has a market capitalization of $168.62 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 14.63 and a beta of 1.65. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.

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 the consensus estimate of $2.23 by ($0.02). The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, equities analysts predict that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The business also recently declared 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. 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 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.