Covenant Asset Management LLC Has $5.98 Million Stock Holdings in QUALCOMM Incorporated $QCOM

Covenant Asset Management LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,575 shares of the wireless technology company’s stock after selling 477 shares during the quarter. QUALCOMM accounts for 0.9% of Covenant Asset Management LLC’s portfolio, making the stock its 24th largest holding. Covenant Asset Management LLC’s holdings in QUALCOMM were worth $5,984,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in shares of QUALCOMM by 70.0% during 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 in the last quarter. Atticus Wealth Management LLC lifted its holdings 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 valued at $34,000 after purchasing an additional 212 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in QUALCOMM in the first quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.3%

NASDAQ QCOM opened at $169.20 on Monday. The stock has a market capitalization of $182.57 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The stock has a fifty day moving average of $158.67 and a 200-day moving average of $152.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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. 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 the consensus estimate of $10.33 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The firm’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. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on QCOM shares. Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Arete Research set a $200.00 price target on QUALCOMM in a report on Tuesday, August 26th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. JPMorgan Chase & Co. increased their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, UBS Group raised their target price on QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.82.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total transaction of $522,814.38. Following the sale, the chief financial officer owned 39,874 shares of the company’s stock, valued at approximately $6,254,635.64. This trade represents a 7.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were 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 of the company’s stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,100 shares of company stock worth $2,026,291 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.