Linscomb Wealth Inc. Has $17.20 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Linscomb Wealth Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,334 shares of the wireless technology company’s stock after selling 3,478 shares during the period. QUALCOMM accounts for about 0.9% of Linscomb Wealth Inc.’s portfolio, making the stock its 17th biggest position. Linscomb Wealth Inc.’s holdings in QUALCOMM were worth $17,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. City Holding Co. grew its holdings in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Bard Financial Services Inc. grew its stake in shares of QUALCOMM by 0.4% in the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after purchasing an additional 125 shares during the last quarter. BNP Paribas acquired a new stake in QUALCOMM in the first quarter valued at $3,104,000. SWP Financial LLC acquired a new position in QUALCOMM during the 4th quarter worth about $593,000. Finally, Horizon Investment Services LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $3,832,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.6 %

Shares of QUALCOMM stock opened at $161.68 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a market capitalization of $180.11 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock’s 50-day simple moving average is $178.40 and its 200 day simple moving average is $181.85.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on QCOM shares. KeyCorp upped their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Susquehanna raised their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Barclays raised their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by company insiders.

QUALCOMM Company 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.