Cove Private Wealth LLC Acquires 5,105 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Cove Private Wealth LLC increased its stake in QUALCOMM by 87.2%, acquiring an additional 5,105 shares, resulting in a total of 10,961 shares valued at approximately $1.75 million.
• QUALCOMM reported a quarterly EPS of $2.77, surpassing estimates, with a revenue of $10.37 billion, an increase of 10.4% year-over-year.
• The company declared a quarterly dividend of $0.89 per share, reflecting an annual dividend yield of 2.1%, with a payout ratio of 34.33%.

Cove Private Wealth LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 87.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,961 shares of the wireless technology company's stock after acquiring an additional 5,105 shares during the period. Cove Private Wealth LLC's holdings in QUALCOMM were worth $1,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Brighton Jones LLC increased its position in shares of QUALCOMM by 116.6% during 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 in the last quarter. Revolve Wealth Partners LLC raised its position 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 valued at $391,000 after purchasing an additional 340 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc raised its position in shares of QUALCOMM by 223.6% in the first quarter. Versant Capital Management Inc now owns 5,543 shares of the wireless technology company's stock valued at $851,000 after purchasing an additional 3,830 shares during the period. Finally, Legacy Private Trust Co. raised its position in shares of QUALCOMM by 29.4% in the first quarter. Legacy Private Trust Co. now owns 13,493 shares of the wireless technology company's stock valued at $2,073,000 after purchasing an additional 3,065 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of 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 target price on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Arete Research set a $200.00 target price on shares of QUALCOMM in a report on Tuesday, August 26th. UBS Group increased their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $182.82.

QUALCOMM Stock Down 0.3%

Shares of NASDAQ QCOM opened at $169.20 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The firm has a market capitalization of $182.57 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The firm has a fifty day simple moving average of $158.67 and a two-hundred day simple moving average of $152.87.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patricia Y. Grech sold 273 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $161.42, for a total transaction of $44,067.66. Following the sale, the chief accounting officer owned 404 shares of the company's stock, valued at approximately $65,213.68. This represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,100 shares of company stock valued at $2,026,291 in the last quarter. 0.08% of the stock is owned by insiders.

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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