Adell Harriman & Carpenter Inc. Has $9.63 Million Position in QUALCOMM Incorporated $QCOM

Adell Harriman & Carpenter Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,494 shares of the wireless technology company’s stock after selling 5,166 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in QUALCOMM were worth $9,634,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC increased its holdings in shares of QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings 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 acquiring an additional 70 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Finally, Atticus Wealth Management LLC grew its holdings in QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM opened at $178.67 on Thursday. The firm has a market cap of $192.78 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. 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 business’s fifty day moving average is $164.93 and its 200-day moving average is $156.11.

QUALCOMM (NASDAQ:QCOM) last released 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. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.QUALCOMM’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 EPS. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio is 34.33%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the sale, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. This represents a 18.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 168,102 shares of company stock worth $27,706,855 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. Citigroup upped their price objective on QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Tuesday. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings raised QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, UBS Group set a $165.00 price objective on QUALCOMM in a report on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

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.