Adell Harriman & Carpenter Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 49,995 shares of the wireless technology company’s stock after selling 2,284 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in QUALCOMM were worth $2,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC raised its holdings in QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the period. Alpha Windward LLC raised its holdings in QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares during the period. Welch Group LLC raised its holdings in QUALCOMM by 2.3% during the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the period. American National Bank raised its holdings in QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC raised its holdings in QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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In related news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 5,810 shares of company stock valued at $301,596. Insiders own 0.17% of the company’s stock.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Northland Securities upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target on the stock in a report on Friday, September 15th. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Finally, William Blair restated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.80.

QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.02 on Friday. The stock has a 50 day moving average price of $51.88 and a 200 day moving average price of $54.17. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The stock has a market capitalization of $76.78 billion, a PE ratio of 19.92 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.38%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

QUALCOMM Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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