Adell Harriman & Carpenter Inc. Sells 12,222 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Adell Harriman & Carpenter Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.2% during the fourth quarter, HoldingsChannel reports. The firm owned 68,161 shares of the wireless technology company’s stock after selling 12,222 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in QUALCOMM were worth $10,471,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in QCOM. Nordea Investment Management AB raised its position in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new position in QUALCOMM in the 4th quarter valued at approximately $2,058,000. Burney Co. lifted its position in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock valued at $7,785,781 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on QCOM shares. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of QCOM stock opened at $172.23 on Friday. The firm has a market cap of $190.49 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $162.87 and a 200 day moving average price of $165.55.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 36.32%.

QUALCOMM 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.