QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,930 shares of the wireless technology company’s stock after selling 850 shares during the period. QUALCOMM makes up approximately 1.2% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 24th biggest position. Adell Harriman & Carpenter Inc.’s holdings in QUALCOMM were worth $12,717,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new stake in shares of QUALCOMM during the third quarter worth $167,000. Avestar Capital LLC increased its stake in shares of QUALCOMM by 18.0% during the 3rd quarter. Avestar Capital LLC now owns 6,009 shares of the wireless technology company’s stock worth $667,000 after purchasing an additional 915 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of QUALCOMM by 3.8% in the 3rd quarter. Brookstone Capital Management now owns 30,966 shares of the wireless technology company’s stock valued at $3,446,000 after purchasing an additional 1,143 shares during the last quarter. PDS Planning Inc boosted its holdings in QUALCOMM by 10.8% in the third quarter. PDS Planning Inc now owns 3,341 shares of the wireless technology company’s stock worth $371,000 after purchasing an additional 325 shares in the last quarter. Finally, Trinity Street Asset Management LLP lifted its position in shares of QUALCOMM by 3.0% in the third quarter. Trinity Street Asset Management LLP now owns 120,987 shares of the wireless technology company’s stock worth $13,437,000 after buying an additional 3,475 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Cantor Fitzgerald boosted their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Up 2.1 %

Shares of QCOM stock traded up $3.54 during trading hours on Monday, reaching $169.20. The company had a trading volume of 6,616,071 shares, compared to its average volume of 8,500,309. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business has a fifty day simple moving average of $165.84 and a 200-day simple moving average of $144.94. The company has a market cap of $188.83 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

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.