Praxis Investment Management Inc. Cuts Stock Position in QUALCOMM Incorporated $QCOM

Key Points

• Praxis Investment Management Inc. reduced its holdings in QUALCOMM by 5.3%, now owning 34,250 shares valued at $5,455,000 following the sale of 1,920 shares.
• QUALCOMM reported an earnings per share (EPS) of $2.77 for the last quarter, surpassing analysts' expectations of $2.71, with a year-over-year revenue increase of 10.4%.
• Recent insider trading included CEO Cristiano R. Amon selling 150,000 shares, resulting in a 50.12% decrease in his ownership of QUALCOMM stock.

Praxis Investment Management Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,250 shares of the wireless technology company's stock after selling 1,920 shares during the period. Praxis Investment Management Inc.'s holdings in QUALCOMM were worth $5,455,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in QCOM. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC increased its position 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 worth $26,000 after acquiring an additional 93 shares during the period. Chung Wu Investment Group LLC purchased a new stake in shares of QUALCOMM during the second quarter worth $32,000. Harbor Asset Planning Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth about $32,000. Finally, Atticus Wealth Management LLC increased its holdings in QUALCOMM by 21,200.0% during the 2nd 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 period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $164.08 on Friday. The firm has a market capitalization of $177.04 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.37 and a beta of 1.23. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average is $161.68 and its two-hundred day moving average is $153.67.

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

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Weiss Ratings restated a "hold (c+)" rating on shares of QUALCOMM in a research note on Wednesday, October 8th. UBS Group increased their price objective 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. JPMorgan Chase & Co. increased their price objective 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. Finally, Mizuho dropped their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the transaction, the chief executive officer owned 149,304 shares in the company, valued at $24,718,770.24. This trade represents a 50.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,767 shares of company stock valued at $26,322,745. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Profile

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.