SteelPeak Wealth LLC Raises Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• SteelPeak Wealth LLC increased its stake in QUALCOMM by 25.3%, acquiring a total of 179,479 shares worth approximately $28.58 million, making it the 22nd largest position in their portfolio.
• Several other institutional investors also boosted their holdings in QUALCOMM during the second quarter, with Drake & Associates LLC leading with a 48.3% increase in their position.
• QUALCOMM's CEO, Cristiano R. Amon, sold 150,000 shares of the company at an average price of $165.56, resulting in a 50.12% decrease in his ownership.

SteelPeak Wealth LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,479 shares of the wireless technology company's stock after purchasing an additional 36,240 shares during the quarter. QUALCOMM accounts for 1.1% of SteelPeak Wealth LLC's portfolio, making the stock its 22nd largest position. SteelPeak Wealth LLC's holdings in QUALCOMM were worth $28,584,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Drake & Associates LLC boosted its position in QUALCOMM by 48.3% in the second quarter. Drake & Associates LLC now owns 4,062 shares of the wireless technology company's stock valued at $647,000 after buying an additional 1,323 shares during the last quarter. Motiv8 Investments LLC lifted its stake in QUALCOMM by 12.1% during the 2nd quarter. Motiv8 Investments LLC now owns 7,473 shares of the wireless technology company's stock valued at $1,190,000 after acquiring an additional 804 shares during the period. Capital Advisors Inc. OK boosted its holdings in shares of QUALCOMM by 53.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 6,970 shares of the wireless technology company's stock valued at $1,110,000 after acquiring an additional 2,428 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its stake in shares of QUALCOMM by 1.8% in the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,584 shares of the wireless technology company's stock worth $1,208,000 after acquiring an additional 132 shares during the period. Finally, Relyea Zuckerberg Hanson LLC raised its holdings in shares of QUALCOMM by 24.3% during the second quarter. Relyea Zuckerberg Hanson LLC now owns 3,622 shares of the wireless technology company's stock worth $577,000 after purchasing an additional 709 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have commented on QCOM. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of QUALCOMM in a report on Saturday, September 27th. Piper Sandler dropped their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a 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 report on Monday, July 28th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, July 31st. Finally, Arete Research set a $200.00 target price on shares of QUALCOMM in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.82.

QUALCOMM Trading Down 0.3%

Shares of NASDAQ:QCOM opened at $168.62 on Tuesday. The business's 50 day moving average price is $159.66 and its 200-day moving average price is $153.30. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a market capitalization of $181.94 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

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

QUALCOMM Company 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.