Adell Harriman & Carpenter Inc. Sells 2,501 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Adell Harriman & Carpenter Inc. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,660 shares of the wireless technology company's stock after selling 2,501 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in QUALCOMM were worth $10,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter worth $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth $29,000. Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter worth $30,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in QUALCOMM in the 4th quarter worth $31,000. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Bank of America decreased their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Trading Down 0.1%

QUALCOMM stock traded down $0.22 during mid-day trading on Friday, hitting $162.11. 4,280,773 shares of the stock were exchanged, compared to its average volume of 8,546,883. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The firm's fifty day simple moving average is $151.32 and its two-hundred day simple moving average is $154.94. The stock has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The company's revenue was up 17.0% compared to the same quarter last year. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.20%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 425,016 shares of company stock worth $8,437,440. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.