QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,161 shares of the wireless technology company’s stock after selling 12,222 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in QUALCOMM were worth $10,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Creative Planning grew its holdings in QUALCOMM by 0.5% in the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after buying an additional 2,086 shares in the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new position in QUALCOMM during the 3rd quarter worth $282,000. Cornerstone Wealth Management LLC grew its stake in shares of QUALCOMM by 4.1% in the third quarter. Cornerstone Wealth Management LLC now owns 9,971 shares of the wireless technology company’s stock worth $1,696,000 after purchasing an additional 393 shares in the last quarter. Good Life Advisors LLC increased its holdings in shares of QUALCOMM by 29.8% during the third quarter. Good Life Advisors LLC now owns 3,190 shares of the wireless technology company’s stock valued at $542,000 after purchasing an additional 733 shares during the period. Finally, Marshall Financial Group LLC raised its stake in shares of QUALCOMM by 1.0% during the third quarter. Marshall Financial Group LLC now owns 13,805 shares of the wireless technology company’s stock valued at $2,348,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

QCOM stock opened at $172.23 on Friday. The stock has a market cap of $190.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The firm has a 50 day simple moving average of $162.87 and a 200 day simple moving average of $165.55. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.32.

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.