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 0.23% to 105.83 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 9.51% valued currently at $15.31 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.
Currently, there are 1.12B common shares owned by the public and among those 1.12B shares have been available to trade.
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Insiders at the company have transacted a total of 60 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 28 occasions, with total insider shares sold totaling 308,695 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 34.92 million shares of the company’s stock, all valued at over $5.05 billion. The company sold 54301.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold 21886.0 shares to see its total holdings shrink to 27.18 million shares valued at over $3.93 billion and representing 2.44% of the shares outstanding. Invesco QQQ Trust sold 52548.0 shares to bring its total holdings to over 20.47 million shares at a value of $2.96 billion. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
However, the script later moved the day high at 151.24, down -0.72%. The company’s stock has a 5-day price change of -2.11% and 41.68% over the past three months. QCOM shares are trading 3.46% year to date (YTD), with the 12-month market performance up to 11.70% higher. It has a 12-month low price of $101.47 and touched a high of $157.98 over the same period. QCOM has an average intraday trading volume of 8.62 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 3.83%, 8.35%, and 24.24% respectively.
Institutional ownership of Qualcomm, Inc. (NASDAQ: QCOM) shares accounts for 75.45% of the company’s 1.12B shares outstanding. Mutual fund holders own 33.32%, while other institutional holders and individual stakeholders account for 43.06% and 2.34% respectively.
It has a market capitalization of $167.13B and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 23.30, while the earnings-per-share (ttm) stands at $6.42. The company has a PEG of 3.61 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 1.91% over the week and 2.04% over the month.
Analysts forecast that Qualcomm, Inc. (QCOM) will achieve an EPS of $2.37 for the current quarter, $2.25 for the next quarter and $10.56 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 11.25%, and 14.43% over the next financial year.
Looking at the support for the QCOM, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on January 23, 2024, with the firm’s price target at $150.
