Zevenbergen Capital Investments LLC Cuts Holdings in Qualcomm Incorporated $QCOM

Zevenbergen Capital Investments LLC lowered its position in Qualcomm Incorporated (NASDAQ:QCOM) by 7.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,977 shares of the wireless technology company’s stock after selling 9,535 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Qualcomm were worth $21,431,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of QCOM. Capital Investment Management Inc. purchased a new stake in shares of Qualcomm during the 2nd quarter worth about $275,000. Prospera Financial Services Inc increased its stake in shares of Qualcomm by 31.4% in the 2nd quarter. Prospera Financial Services Inc now owns 47,368 shares of the wireless technology company’s stock valued at $8,759,000 after purchasing an additional 11,326 shares in the last quarter. Amarillo National Bank purchased a new position in shares of Qualcomm in the 2nd quarter valued at about $203,000. Syntegra Private Wealth Group LLC raised its holdings in Qualcomm by 4.0% in the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,347 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 91 shares during the period. Finally, Waddell & Associates LLC raised its holdings in Qualcomm by 20.7% in the 2nd quarter. Waddell & Associates LLC now owns 2,417 shares of the wireless technology company’s stock worth $447,000 after purchasing an additional 415 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. HSBC reissued a “hold” rating on shares of Qualcomm in a report on Wednesday, July 15th. Monness Crespi & Hardt raised Qualcomm to a “buy” rating in a research note on Thursday, June 25th. Citigroup decreased their target price on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley dropped their price target on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group cut their price target on shares of Qualcomm from $190.00 to $170.00 and set a “neutral” rating for the company in a 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 given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $203.63.

Insider Activity at Qualcomm

In related news, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The transaction was disclosed in a filing 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, EVP Heather S. Ace sold 3,200 shares of the firm’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 completion of the transaction, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. The trade was a 8.05% 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. In the last ninety days, insiders sold 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is owned by insiders.

Qualcomm Trading Up 0.6%

QCOM stock opened at $165.79 on Friday. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The business’s 50-day moving average is $182.72 and its 200 day moving average is $167.72. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market cap of $174.12 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 15.25 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM) last announced 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). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. Qualcomm’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, sell-side analysts anticipate that Qualcomm Incorporated will post 7.76 EPS for the current fiscal year.

Qualcomm Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s payout ratio is presently 42.59%.

About Qualcomm

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.