Simplicity Wealth LLC Lowers Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Simplicity Wealth LLC reduced its holdings in QUALCOMM by 20.7% in the second quarter, selling 2,195 shares and now owning 8,397 shares valued at approximately $1.34 million.
• Several hedge funds, including Atlantic Edge Private Wealth Management and Vermillion & White Wealth Management, made significant increases to their positions in QUALCOMM during the first quarter.
• QUALCOMM’s stock has a current consensus rating of "Moderate Buy" with a target price of around $182.82, following various price target adjustments by analysts.

Simplicity Wealth LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 20.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,397 shares of the wireless technology company's stock after selling 2,195 shares during the period. Simplicity Wealth LLC's holdings in QUALCOMM were worth $1,337,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC lifted its position in QUALCOMM by 70.0% during the first 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 stake in shares of 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 valued at $26,000 after acquiring an additional 93 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. Atticus Wealth Management LLC boosted its position in shares of QUALCOMM by 21,200.0% in the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company's stock worth $34,000 after acquiring an additional 212 shares during the last quarter. Finally, Abound Financial LLC purchased a new stake in QUALCOMM in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 201 shares of QUALCOMM stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total transaction of $34,170.00. Following the sale, the chief accounting officer owned 203 shares in the company, valued at $34,510. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 150,000 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the transaction, the chief executive officer owned 149,304 shares of the company's stock, valued at $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,767 shares of company stock valued at $26,322,745 over the last three months. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QCOM shares. 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 research note on Thursday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Bank of America dropped their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Finally, UBS Group raised their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.82.

QUALCOMM Stock Down 0.3%

Shares of NASDAQ QCOM opened at $168.62 on Tuesday. The stock has a fifty day moving average price of $159.66 and a 200 day moving average price of $153.30. 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 company has a market cap of $181.94 billion, a P/E ratio of 16.26, a P/E/G ratio of 2.47 and a beta of 1.23.

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 analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The firm's quarterly revenue was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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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