Adell Harriman & Carpenter Inc. Decreases Stock Position in Qualcomm Incorporated $QCOM

Key Points

• Adell Harriman & Carpenter Inc. reduced its Qualcomm stake by 16.6% in the fourth quarter, selling 8,110 shares and leaving it with 40,599 shares valued at about $6.95 million.
• Several analysts raised or reiterated bullish views on Qualcomm, including higher price targets from TD Cowen and Citigroup, though the overall consensus rating remains Hold with a target of $181.79.
• Qualcomm reported quarterly earnings of $2.65 per share, topping expectations, and also boosted its dividend to $0.92 per share while its board authorized a $20 billion share buyback.

Adell Harriman & Carpenter Inc. cut its position in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 16.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,599 shares of the wireless technology company's stock after selling 8,110 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Qualcomm were worth $6,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Qualcomm by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Qualcomm by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares during the period. Sivia Capital Partners LLC increased its stake in Qualcomm by 44.3% during the second quarter. Sivia Capital Partners LLC now owns 3,325 shares of the wireless technology company's stock worth $530,000 after acquiring an additional 1,020 shares during the last quarter. Main Street Financial Solutions LLC raised its position in Qualcomm by 6.1% in the second quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock valued at $920,000 after purchasing an additional 333 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in Qualcomm by 9.7% in the second quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 603 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. TD Cowen increased their price target on Qualcomm from $150.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Loop Capital upgraded shares of Qualcomm from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a report on Tuesday, February 24th. Citigroup upped their target price on shares of Qualcomm from $140.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Rosenblatt Securities reissued a "buy" rating and issued a $190.00 price target on shares of Qualcomm in a research note on Thursday, April 30th. Finally, Craig Hallum upgraded shares of Qualcomm to a "buy" rating in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Qualcomm currently has an average rating of "Hold" and a consensus price target of $181.79.

Insider Buying and Selling

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $211.90, for a total value of $529,750.00. Following the sale, the executive vice president directly owned 28,184 shares in the company, valued at approximately $5,972,189.60. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Monday, May 4th. The shares were sold at an average price of $180.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief executive officer owned 197,568 shares of the company's stock, valued at approximately $35,562,240. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,477 shares of company stock worth $3,268,316 over the last ninety days. Insiders own 0.05% of the company's stock.

Qualcomm Stock Down 3.9%

Shares of NASDAQ:QCOM opened at $195.61 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a market capitalization of $206.17 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 25.22 and a beta of 1.49. The firm's 50-day moving average is $149.89 and its two-hundred day moving average is $157.92. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $247.90.

Qualcomm (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. Analysts predict that Qualcomm Incorporated will post 7.99 EPS for the current year.

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. This is an increase from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, June 4th. Qualcomm's dividend payout ratio is currently 38.70%.

Qualcomm announced that its board has authorized a share buyback program on Tuesday, March 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board 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.

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