Pitti Group Wealth Management LLC Lowers Stock Holdings in QUALCOMM Incorporated $QCOM

Pitti Group Wealth Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,924 shares of the wireless technology company’s stock after selling 73 shares during the period. Pitti Group Wealth Management LLC’s holdings in QUALCOMM were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of QCOM. Harrell Investment Partners LLC purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $769,000. Regatta Capital Group LLC boosted its stake in QUALCOMM by 10.0% in the second quarter. Regatta Capital Group LLC now owns 1,911 shares of the wireless technology company’s stock worth $304,000 after buying an additional 174 shares in the last quarter. Verum Partners LLC grew its position in QUALCOMM by 11.1% during the second quarter. Verum Partners LLC now owns 1,992 shares of the wireless technology company’s stock valued at $317,000 after acquiring an additional 199 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its stake in shares of QUALCOMM by 4.6% during the second quarter. Foster Victor Wealth Advisors LLC now owns 151,925 shares of the wireless technology company’s stock worth $24,209,000 after acquiring an additional 6,687 shares in the last quarter. Finally, IMS Capital Management purchased a new position in shares of QUALCOMM during the second quarter worth approximately $1,465,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $173.55 on Thursday. The company has a market cap of $187.26 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. The company has a 50-day moving average price of $158.04 and a 200-day moving average price of $152.66. 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.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the firm earned $2.33 earnings per share. QUALCOMM’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. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Mizuho reduced their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $182.82.

Insiders Place Their Bets

In related news, CAO Patricia Y. Grech sold 201 shares of the stock in a transaction dated 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 $34,510. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 791 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was 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 owned 1,106 shares of the company’s stock, valued at $171,230.92. This trade represents a 41.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,100 shares of company stock worth $2,026,291. Insiders own 0.08% of the company’s stock.

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.