Qualcomm Incorporated $QCOM Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners increased its Qualcomm stake by 149.6% in the first quarter, buying 32,160 additional shares and bringing its total to 53,652 shares worth about $6.9 million.
• Insider selling continued, with CEO Cristiano R. Amon and CAO Patricia Y. Grech both selling shares in recent transactions; insiders have sold 21,721 shares worth $3.9 million over the last 90 days.
• Qualcomm reported mixed but solid quarterly results, beating EPS estimates at $2.65 and slightly topping revenue expectations at $10.60 billion, while also announcing a $20 billion share repurchase program.

Elevation Point Wealth Partners LLC boosted its stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 149.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,652 shares of the wireless technology company's stock after buying an additional 32,160 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Qualcomm were worth $6,909,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. lifted its holdings in Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 80 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Qualcomm during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its position in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after buying an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in shares of Qualcomm in the fourth quarter valued at approximately $31,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in shares of Qualcomm during the fourth quarter valued at approximately $32,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, CEO Cristiano R. Amon sold 10,000 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $180.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer owned 197,568 shares of the company's stock, valued at approximately $35,562,240. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,721 shares of company stock valued at $3,918,290 in the last ninety days. 0.05% of the stock is owned by insiders.

Qualcomm Stock Performance

QCOM stock opened at $176.25 on Friday. The stock's 50 day simple moving average is $205.65 and its 200 day simple moving average is $167.95. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The firm has a market cap of $185.77 billion, a P/E ratio of 19.16, a P/E/G ratio of 5.24 and a beta of 1.63. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.09. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. During the same period last year, the company earned $2.85 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts predict that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the wireless technology company to reacquire up to 14.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. Benchmark lifted their target price on Qualcomm from $225.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price objective on Qualcomm from $160.00 to $265.00 and gave the company a "neutral" rating in a research note on Friday, June 5th. BNP Paribas Exane downgraded shares of Qualcomm to a "neutral" rating in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Qualcomm from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Finally, Morgan Stanley raised shares of Qualcomm from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $146.00 to $231.00 in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Qualcomm currently has a consensus rating of "Hold" and an average target price of $220.45.

About Qualcomm

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.

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