The Vanguard Group, Inc. recently announced the acquisition of new stake in Qualcomm, Inc. (NASDAQ:QCOM). The institutional investor has increased its shareholding in the Technology company by 5.34% to 111.49 million shares with purchase of 5.65 million shares. This fresh investment now brings its stake to 10.02% valued currently at $14.39 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.71 million to 58.84 million shares. And Geode Capital Management LLC has lifted its position by 2.50% or 0.54 million shares – to 22.12 million shares.
With over 8.47 million Qualcomm, Inc. (QCOM) shares trading Tuesday and a closing price of $140.23 on the day, the dollar volume was approximately $1.19 billion. The shares have shown a positive half year performance of 16.77% and its price on 01/02/24 lost nearly -3.04%. Currently, there are 1.11B common shares owned by the public and among those 1.11B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for QCOM have a consensus price objective of $140.02. The analysts have set the share’s price value over the next 12 months at a high of $167.70 and a low of $100.00. The average price target is -0.15% below its recent price level and a downside to the estimated low will see the stock lose -40.23% over that period. But an upside of 16.38% will see the stock hit the forecast high price target while median target price for the stock is $140.00.
Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 292,132 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 310,779 shares.
The top 3 mutual fund holders in Qualcomm, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 34.98 million shares of the company’s stock, all valued at over $4.51 billion. The company bought an additional 49962.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 0.13 million shares to see its total holdings expand to 26.95 million shares valued at over $3.48 billion and representing 2.42% of the shares outstanding. Invesco QQQ Trust sold 65854.0 shares to bring its total holdings to over 19.41 million shares at a value of $2.51 billion. Invesco QQQ Trust now owns shares totaling to 1.74% of the shares outstanding.
Shares of Qualcomm, Inc. (NASDAQ: QCOM) opened at $142.19, down -$2.44 from a prior closing price of $144.63. The company’s stock has a 5-day price change of -2.27% and 26.22% over the past three months. QCOM shares are trading -3.04% year to date (YTD), with the 12-month market performance up to 27.67% higher. It has a 12-month low price of $101.47 and touched a high of $146.89 over the same period. QCOM has an average intraday trading volume of 8.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.05%, 10.22%, and 18.23% respectively.
Institutional ownership of Qualcomm, Inc. (NASDAQ: QCOM) shares accounts for 75.83% of the company’s 1.11B shares outstanding. Mutual fund holders own 32.85%, while other institutional holders and individual stakeholders account for 43.48% and 2.34% respectively.
It has a market capitalization of $156.08B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 21.84, while the earnings-per-share (ttm) stands at $6.42. The company has a PEG of 3.38 and a Quick Ratio of 1.62 with the debt-to-equity ratio at 0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.36% over the week and 1.60% over the month.
Analysts forecast that Qualcomm, Inc. (QCOM) will achieve an EPS of $2.36 for the current quarter, $2.23 for the next quarter and $10.4 for 2025. The lowest estimate earnings-per-share for the quarter is $2.33 while analysts give the company a high EPS estimate of $2.51. Comparatively, EPS for the current quarter was $2.37 a year ago. Earnings per share for the fiscal year are expected to increase by 9.66%, and 12.66% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate Qualcomm, Inc. (QCOM) as a “Moderate Buy” at a consensus score of 2.06. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 13 of the 33 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the QCOM, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on December 08, 2023, with the firm’s price target at $119-$132.
