Covenant Asset Management LLC Sells 477 Shares of QUALCOMM Incorporated $QCOM

Covenant Asset Management LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the second quarter, Holdings Channel.com reports. The firm owned 37,575 shares of the wireless technology company’s stock after selling 477 shares during the period. QUALCOMM makes up about 0.9% of Covenant Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Covenant Asset Management LLC’s holdings in QUALCOMM were worth $5,984,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its position in QUALCOMM by 122.4% in the first 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 acquired a new stake in QUALCOMM in the 1st quarter valued at $27,000. Atticus Wealth Management LLC lifted its position in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after buying an additional 212 shares in the last quarter. Finally, Abound Financial LLC bought a new stake in QUALCOMM during the 1st quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the sale, the chief accounting officer directly owned 404 shares of the company’s stock, valued at approximately $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock valued at $2,026,291 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.3%

QCOM opened at $169.20 on Monday. The stock’s fifty day simple moving average is $158.67 and its 200 day simple moving average is $152.88. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The stock has a market cap of $182.57 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. 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 (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS 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 firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the business posted $2.33 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. QUALCOMM’s dividend payout ratio is currently 34.33%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price target on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, UBS Group raised their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.82.

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.