Centric Wealth Management Takes Position in Qualcomm Incorporated $QCOM

Key Points

• Centric Wealth Management acquired 16,048 Qualcomm shares during the second quarter, valued at approximately $2.7 million. Institutional investors collectively own 74.35% of Qualcomm’s outstanding stock.
• Qualcomm’s latest quarterly revenue reached $9.95 billion, exceeding estimates, but adjusted earnings of $2.21 per share slightly missed expectations and revenue declined 4% year over year. The stock opened at $160.19, below its 50-day average of $180.71.
• Qualcomm declared a quarterly dividend of $0.92 per share, or $3.68 annualized, representing a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $203.63.

Centric Wealth Management acquired a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,048 shares of the wireless technology company's stock, valued at approximately $2,702,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JFS Wealth Advisors LLC increased its stake in shares of Qualcomm by 3.4% in the second quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company's stock worth $295,000 after buying an additional 53 shares during the last quarter. Wall Street Financial Group Inc. lifted its holdings in Qualcomm by 1.9% in the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company's stock worth $564,000 after acquiring an additional 57 shares during the last quarter. Sunbeam Capital Management LLC lifted its holdings in shares of Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company's stock worth $303,000 after purchasing an additional 58 shares during the last quarter. Basepoint Wealth LLC boosted its holdings in shares of Qualcomm by 1.8% during the first quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company's stock valued at $429,000 after acquiring an additional 59 shares during the period. Finally, Five Oceans Advisors boosted its stake in Qualcomm by 3.3% during the 2nd quarter. Five Oceans Advisors now owns 1,827 shares of the wireless technology company's stock valued at $338,000 after purchasing an additional 59 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm Price Performance

QCOM opened at $160.19 on Wednesday. The stock has a fifty day moving average price of $180.71 and a 200 day moving average price of $167.93. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The stock has a market cap of $168.24 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 15.25 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $9.69 billion. During the same period last year, the business earned $2.77 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts forecast that Qualcomm Incorporated will post 7.76 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's payout ratio is currently 42.59%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Monness Crespi & Hardt upgraded shares of Qualcomm to a "buy" rating in a research report on Thursday, June 25th. Oppenheimer set a $200.00 target price on Qualcomm in a research report on Monday, July 27th. BNP Paribas Exane downgraded shares of Qualcomm to a "neutral" rating in a research report on Wednesday, April 29th. Zacks Research raised Qualcomm from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group set a $160.00 target price on Qualcomm in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $203.63.

Insider Buying and Selling

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 directly owned 36,535 shares of the company's stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is owned by company insiders.

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.

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