Cullen Frost Bankers Inc. Has $29.19 Million Stock Holdings in Qualcomm Incorporated $QCOM

Cullen Frost Bankers Inc. cut its stake in Qualcomm Incorporated (NASDAQ:QCOM) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 170,630 shares of the wireless technology company’s stock after selling 7,346 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Qualcomm were worth $29,186,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QCOM. Brighton Jones LLC increased its stake in shares of Qualcomm by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after acquiring an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Qualcomm by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Qualcomm by 44.3% in the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company’s stock worth $530,000 after acquiring an additional 1,020 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in shares of Qualcomm by 6.1% in the second quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company’s stock worth $920,000 after acquiring an additional 333 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in shares of Qualcomm by 9.7% in the second quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 603 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Qualcomm Trading Down 3.9%

Qualcomm stock opened at $195.61 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The company has a market capitalization of $206.17 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 25.22 and a beta of 1.49. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $247.90. The company’s fifty day moving average price is $149.89 and its two-hundred day moving average price is $157.92.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, analysts forecast that Qualcomm Incorporated will post 7.99 earnings per share for the current fiscal year.

Qualcomm announced that its board has initiated a share buyback plan on Tuesday, March 17th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Qualcomm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Qualcomm’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, June 4th. Qualcomm’s dividend payout ratio is currently 38.70%.

Insider Activity

In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total transaction of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares in the company, valued at $7,065,677.70. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $211.90, for a total transaction of $529,750.00. Following the sale, the executive vice president owned 28,184 shares of the company’s stock, valued at $5,972,189.60. This trade represents a 8.15% 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. Insiders have sold 18,477 shares of company stock valued at $3,268,316 over the last three months. 0.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Qualcomm from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $200.00 target price on shares of Qualcomm in a research report on Thursday, February 5th. Susquehanna increased their target price on shares of Qualcomm from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Morgan Stanley initiated coverage on shares of Qualcomm in a research report on Friday, May 8th. They set an “overweight” rating on the stock. Finally, Tigress Financial increased their target price on shares of Qualcomm from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $181.79.

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.