Funds Shift Stakes Across Qualcomm, AECOM, Q2
Funds Shift Stakes Across Qualcomm, AECOM, Q2
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Key Points
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After selling 525,856 shares, Bank of America still held 9,954,402 Qualcomm shares, valued at approximately $1.84 billion.
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Following the sale, Qualcomm EVP Akash Palkhiwala directly owned 18,184 shares, worth about $3.32 million; the transaction was carried out under a pre-arranged Rule 10b5-1 trading plan.
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Qualcomm shares traded as low as $170.51 and last changed hands at $180.15 during the cited session, with 13.64 million shares traded—about 12% below the average daily volume.
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The analyst distribution behind Qualcomm’s consensus rating included two Strong Buy ratings, 12 Buy ratings, 22 Hold ratings and two Sell ratings.
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California State Teachers Retirement System was reported to have increased its Qualcomm position by 18,251.8% to 301,278,659 shares, valued at approximately $55.67 billion.
Major institutional investors are reshuffling their chip giant Qualcomm positions in Q2, with some cutting back sharply while others double down. Bank of America trimmed its stake by 5%, yet still holds nearly $1.84 billion worth. Meanwhile, WatchlistNews reports that California State Teachers Retirement System surged its position by 18,251.8%, reaching $55.67 billion in holdings.
Qualcomm shares dipped roughly 1% after Executive Vice President Akash Palkhiwala sold 2,500 shares for about $457,000 under a pre-arranged trading plan. The stock trades near $180.15, with analysts split on outlook—22 Hold ratings outnumber 14 Buy ratings, keeping consensus cautious at a $204 average price target.
Major Fund Managers Reduce Stakes
Bank of America cut its Qualcomm holdings by 525,856 shares in Q2. The bank still owns 9,954,402 shares worth $1.84 billion, making it a major player. WINTON GROUP Ltd. went much further, slashing its position by 76.5% in a dramatic reversal of faith.
BlackRock and Rivals Load Up on Qualcomm
While some investors fled, heavy hitters like BlackRock, Geode Capital Management, and Norges Bank all increased or started fresh positions. Invesco and VanEck joined the buying. Together, institutional investors now own about 74% of all Qualcomm shares. These moves suggest institutional confidence despite mixed analyst views.
Palkhiwala's Insider Sale Triggers Market Reaction
Qualcomm's executive vice president unloaded 2,500 shares worth approximately $457,000 under a Rule 10b5-1 trading plan. This pre-arranged agreement allows insiders to sell on a fixed schedule without insider-trading concerns. Palkhiwala directly owns 18,184 shares valued at $3.32 million after the transaction.
The stock fell roughly 1% on the news. Qualcomm shares traded as low as $170.51 during the session, closing at $180.15 with 13.64 million shares changing hands—about 12% below normal daily volume.
Analyst Consensus Tilts Cautious Amid Divided Opinion
Wall Street remains split on Qualcomm's future. Two analysts rate it Strong Buy, 12 rate it Buy, but 22 prefer Hold and two recommend Sell. This divided camp produces a neutral consensus rating. The average price target sits at $204, suggesting modest upside from current levels near $180.
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