Procyon Advisors LLC Sells 30,159 Shares of QUALCOMM Incorporated $QCOM

Procyon Advisors LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,936 shares of the wireless technology company's stock after selling 30,159 shares during the quarter. Procyon Advisors LLC's holdings in QUALCOMM were worth $3,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter worth $27,000. Vermillion & White Wealth Management Group LLC boosted its holdings in QUALCOMM by 122.4% during the 1st 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 last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings 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 acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter worth $30,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. Arete raised shares of QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price objective on the stock in a report on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Bank of America cut their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, QUALCOMM has an average rating of "Moderate Buy" and a consensus target price of $182.82.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company'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 completion of the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 791 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the sale, the chief accounting officer directly owned 1,106 shares of the company's stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,899 shares of company stock worth $1,992,121 in the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.8%

QCOM stock opened at $164.14 on Wednesday. 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's 50 day moving average is $156.55 and its 200 day moving average is $152.13. The stock has a market cap of $177.11 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.34 and a beta of 1.21. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.2%. QUALCOMM's dividend payout ratio is currently 34.33%.

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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