Confluence Wealth Services Inc. Sells 1,764 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Confluence Wealth Services Inc. decreased its stake in QUALCOMM by 15.3%, selling 1,764 shares and ending the quarter with 9,736 shares valued at approximately $1.55 million.
• Analysts have shown mixed sentiments about QUALCOMM, with ratings ranging from a "Strong Buy" to a "Sell" and an average price target of $182.82.
• Insiders, including CFO Akash Palkhiwala and CEO Cristiano Amon, have recently sold significant shares, indicating a decrease in their ownership stakes, with Amon selling 150,000 shares for approximately $24.83 million.

Confluence Wealth Services Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,736 shares of the wireless technology company's stock after selling 1,764 shares during the quarter. Confluence Wealth Services Inc.'s holdings in QUALCOMM were worth $1,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in QUALCOMM during the second quarter valued at approximately $32,000. Finally, Atticus Wealth Management LLC boosted its holdings in QUALCOMM by 21,200.0% in the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on QCOM shares. Arete upgraded QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price target on the stock in a research note on Tuesday, August 26th. Piper Sandler dropped their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research note on Tuesday, August 26th. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total transaction of $522,814.38. Following the sale, the chief financial officer directly owned 39,874 shares of the company's stock, valued at $6,254,635.64. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cristiano R. Amon sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares of the company's stock, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,767 shares of company stock valued at $26,322,745 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $169.18 on Monday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $182.55 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.47 and a beta of 1.23. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The business's 50-day moving average is $159.51 and its 200 day moving average is $153.22.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The company's revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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