Elevation Point Wealth Partners LLC Sells 17,727 Shares of Qualcomm Incorporated $QCOM

Elevation Point Wealth Partners LLC lessened its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 33.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 35,925 shares of the wireless technology company’s stock after selling 17,727 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Qualcomm were worth $6,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of QCOM. Baxter Bros Inc. bought a new position in Qualcomm in the 2nd quarter worth $17,844,000. MUFG Securities EMEA plc lifted its position in shares of Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company’s stock valued at $7,524,000 after acquiring an additional 23,262 shares in the last quarter. Swedbank AB boosted its stake in shares of Qualcomm by 1.5% in the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company’s stock worth $262,291,000 after acquiring an additional 23,110 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Qualcomm by 5.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company’s stock worth $24,578,000 after acquiring an additional 7,804 shares during the period. Finally, Valley Wealth Managers Inc. grew its position in shares of Qualcomm by 6.1% during the fourth quarter. Valley Wealth Managers Inc. now owns 40,009 shares of the wireless technology company’s stock worth $6,844,000 after purchasing an additional 2,288 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Rosenblatt Securities decreased their target price on Qualcomm from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price objective on shares of Qualcomm in a report on Thursday, April 30th. Craig Hallum cut shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Roth Capital assumed coverage on shares of Qualcomm in a report on Friday, May 8th. They issued a “buy” rating on the stock. Finally, HSBC restated a “hold” rating on shares of Qualcomm in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $203.63.

Insider Buying and Selling

In related news, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the sale, the executive vice president owned 36,535 shares of the company’s stock, valued at $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares of the company’s stock, valued at $33,872.80. This trade represents a 75.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,325 shares of company stock worth $1,925,859. Insiders own 0.05% of the company’s stock.

Qualcomm Price Performance

Shares of Qualcomm stock opened at $160.75 on Monday. The firm has a market cap of $168.82 billion, a PE ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65. The stock has a 50 day moving average of $178.26 and a 200 day moving average of $168.12. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The business’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, research analysts expect that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s payout ratio is currently 42.59%.

Qualcomm Company Profile

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.