Adell Harriman & Carpenter Inc. Has $4.17 Million Stock Holdings in Qualcomm Incorporated $QCOM

Key Points

• Adell Harriman & Carpenter Inc. cut its Qualcomm position by 20.2% in the first quarter, selling 8,189 shares and leaving it with 32,410 shares worth about $4.17 million.
• Qualcomm reported quarterly earnings of $2.65 per share, beating estimates, while revenue of $10.60 billion was roughly in line with expectations but still down 3.5% year over year.
• The company’s board approved a $20 billion share repurchase program, and analysts currently have a consensus rating of Hold with a target price of $221.31.

Adell Harriman & Carpenter Inc. decreased its position in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,410 shares of the wireless technology company's stock after selling 8,189 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Qualcomm were worth $4,174,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of QCOM. Brighton Jones LLC raised its position 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 buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Qualcomm by 15.4% during the 4th 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 last quarter. Sivia Capital Partners LLC boosted its position in Qualcomm by 44.3% during the 2nd 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 grew its stake in shares of Qualcomm by 6.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 5,778 shares of the wireless technology company's stock worth $920,000 after acquiring an additional 333 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Qualcomm by 9.7% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 6,800 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 603 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, EVP Heather S. Ace sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares of the company's stock, valued at $7,065,677.70. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 197,568 shares of the company's stock, valued at approximately $35,562,240. The trade was 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. Over the last ninety days, insiders have sold 21,721 shares of company stock worth $4,044,465. Company insiders own 0.05% of the company's stock.

Qualcomm Stock Performance

Shares of QCOM stock opened at $178.10 on Wednesday. The company has a fifty day moving average price of $209.51 and a two-hundred day moving average price of $168.41. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The stock has a market cap of $187.72 billion, a P/E ratio of 19.36, a P/E/G ratio of 5.47 and a beta of 1.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61.

Qualcomm (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.09. The company had revenue of $10.60 billion for 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%. Qualcomm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities analysts predict that Qualcomm Incorporated will post 7.96 EPS for the current year.

Qualcomm announced that its board has authorized a share repurchase plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Susquehanna boosted their price objective on shares of Qualcomm from $160.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Benchmark raised their target price on shares of Qualcomm from $225.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. TD Cowen lifted their price target on shares of Qualcomm from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday. Robert W. Baird set a $300.00 price target on shares of Qualcomm in a research report on Friday, May 1st. Finally, Barclays upgraded shares of Qualcomm from an "underweight" rating to an "overweight" rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $221.31.

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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