Pitti Group Wealth Management LLC Cuts Position in QUALCOMM Incorporated $QCOM

Pitti Group Wealth Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,924 shares of the wireless technology company’s stock after selling 73 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in QUALCOMM were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC raised its position in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in 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 purchasing an additional 93 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter valued at about $27,000. Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the fourth quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on QCOM shares. Citigroup restated a “hold” rating on shares of QUALCOMM in a report on Thursday, July 17th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, July 31st. Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.82.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 791 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the sale, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,100 shares of company stock valued at $2,026,291. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QCOM stock opened at $173.55 on Thursday. 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 Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a market cap of $187.26 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. The stock’s fifty day moving average price is $158.04 and its 200-day moving average price is $152.66.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.1%. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

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.