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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Qualcomm in the second quarter worth $17,583,115,000. Norges Bank bought a new position in shares of Qualcomm during the fourth quarter valued at $2,591,056,000. Bank of New York Mellon Corp purchased a new position in shares of Qualcomm in the 2nd quarter worth about $1,523,930,000. Deutsche Bank AG purchased a new position in shares of Qualcomm in the 2nd quarter worth about $1,178,349,000. Finally, Wellington Management Group LLP boosted its stake in Qualcomm by 34.5% in the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock worth $2,861,301,000 after purchasing an additional 4,290,622 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at Qualcomm

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares in the company, valued at approximately $4,191,899.04. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the transaction, the executive vice president directly owned 36,535 shares in the company, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,325 shares of company stock worth $1,925,859 in the last ninety days. Insiders own 0.05% of the company’s stock.

Qualcomm Stock Performance

Shares of QCOM stock opened at $160.75 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $178.26 and a 200-day moving average price of $168.12. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The firm has a market capitalization of $168.82 billion, a PE ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65.

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

Qualcomm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is presently 42.59%.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. DZ Bank raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research report on Friday, June 26th. BNP Paribas Exane cut shares of Qualcomm to a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research note on Wednesday, June 24th. Barclays reiterated an “underweight” rating and set a $180.00 price target on shares of Qualcomm in a report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $160.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Two 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 given a Sell rating to the stock. According to MarketBeat.com, Qualcomm has an average rating of “Hold” and an average target price of $203.63.

Qualcomm 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.