Elevation Point Wealth Partners LLC lowered its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,925 shares of the wireless technology company's stock after selling 17,727 shares during the period. Elevation Point Wealth Partners LLC's holdings in Qualcomm were worth $6,639,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Qualcomm in the second quarter worth $17,583,115,000. Norges Bank bought a new position in shares of Qualcomm during the fourth quarter valued at $2,591,056,000. Bank of New York Mellon Corp purchased a new position in shares of Qualcomm in the 2nd quarter worth about $1,523,930,000. Deutsche Bank AG purchased a new position in shares of Qualcomm in the 2nd quarter worth about $1,178,349,000. Finally, Wellington Management Group LLP boosted its stake in Qualcomm by 34.5% in the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company's stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares in the last quarter. Institutional investors own 74.35% of the company's stock.
Insider Transactions at Qualcomm
In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the company's stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares in the company, valued at approximately $4,191,899.04. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, August 3rd. The shares were 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 in the company, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,325 shares of company stock worth $1,925,859 in the last ninety days. Insiders own 0.05% of the company's stock.
Qualcomm Stock Performance
Shares of QCOM stock opened at $160.75 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $178.26 and a 200-day moving average price of $168.12. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The firm has a market capitalization of $168.82 billion, a PE ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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 net margin of 21.01% and a return on equity of 38.36%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter last year, the company earned $2.77 EPS. 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. As a group, equities research analysts expect that Qualcomm Incorporated will post 7.74 earnings per share for the current year.
Qualcomm Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm's dividend payout ratio is presently 42.59%.
Analysts Set New Price Targets
QCOM has been the topic of several recent analyst reports. DZ Bank raised shares of Qualcomm from a "hold" rating to a "buy" rating and set a $265.00 price objective on the stock in a research report on Friday, June 26th. BNP Paribas Exane cut shares of Qualcomm to a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qualcomm in a research note on Wednesday, June 24th. Barclays reiterated an "underweight" rating and set a $180.00 price target on shares of Qualcomm in a report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $160.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Qualcomm has an average rating of "Hold" and an average target price of $203.63.
Read Our Latest Analysis on QCOM
Qualcomm Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Qualcomm, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Qualcomm wasn't on the list.
While Qualcomm currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
