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

Adell Harriman & Carpenter Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 large investors have also modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM traded down $0.22 during mid-day trading on Friday, hitting $162.11. 4,280,773 shares of the company's stock were exchanged, compared to its average volume of 8,546,883. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The business's 50 day moving average is $151.32 and its two-hundred day moving average is $154.97. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a $0.89 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

A number of equities analysts recently commented on QCOM shares. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Citigroup decreased their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.96.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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. Insiders sold a total of 425,016 shares of company stock worth $8,437,440 over the last 90 days. Company insiders own 0.08% of the company's stock.

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.