Elevation Point Wealth Partners LLC Has $6.91 Million Stock Holdings in Qualcomm Incorporated $QCOM

Elevation Point Wealth Partners LLC boosted its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 149.6% during the first quarter, Holdings Channel reports. The institutional investor owned 53,652 shares of the wireless technology company’s stock after acquiring an additional 32,160 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Qualcomm were worth $6,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Richardson Financial Services Inc. grew its stake in shares of Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 80 shares during the period. Torren Management LLC bought a new position in shares of Qualcomm during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after buying an additional 170 shares during the period. Birchwood Financial Partners Inc. acquired a new stake in Qualcomm in the 4th quarter valued at $31,000. Finally, Glass Jacobson Investment Advisors llc grew its position in Qualcomm by 113.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company’s stock valued at $32,000 after acquiring an additional 101 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Rosenblatt Securities boosted their price objective on Qualcomm from $190.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Susquehanna increased their price objective on shares of Qualcomm from $160.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Lake Street Capital cut shares of Qualcomm to a “hold” rating in a research report on Thursday, June 25th. Zacks Research raised shares of Qualcomm from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Barclays upgraded shares of Qualcomm from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $220.45.

Insider Transactions at Qualcomm

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $130.34, for a total value of $325,850.00. Following the completion of the transaction, the executive vice president owned 30,684 shares of the company’s stock, valued at $3,999,352.56. The trade was a 7.53% 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, CEO Cristiano R. Amon sold 10,000 shares of Qualcomm stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $180.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. This trade represents a 4.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,721 shares of company stock worth $3,918,290 over the last three months. Company insiders own 0.05% of the company’s stock.

Qualcomm Price Performance

NASDAQ:QCOM opened at $176.25 on Friday. The stock has a 50-day simple moving average of $205.65 and a 200 day simple moving average of $167.95. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a market cap of $185.77 billion, a PE ratio of 19.16, a PEG ratio of 5.24 and a beta of 1.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.09. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a return on equity of 42.11% and a net margin of 22.31%.The business’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, sell-side analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current fiscal year.

Qualcomm declared that its Board of Directors has approved a stock buyback program on Tuesday, March 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.