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

Linscomb Wealth Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,334 shares of the wireless technology company's stock after selling 3,478 shares during the period. QUALCOMM accounts for 0.9% of Linscomb Wealth Inc.'s portfolio, making the stock its 17th largest 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).

Several other large investors have also modified their holdings of QCOM. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the first quarter worth about $1,171,516,000. Price T Rowe Associates Inc. MD increased its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp grew its holdings in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock worth $997,210,000 after buying an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $238,770,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 3.0 %

QUALCOMM stock traded up $4.88 during midday trading on Wednesday, reaching $166.56. The stock had a trading volume of 8,270,545 shares, compared to its average volume of 9,255,707. The firm has a market cap of $185.88 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.74 and a beta of 1.28. The firm's fifty day simple moving average is $178.40 and its two-hundred day simple moving average is $181.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM's payout ratio is presently 45.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp increased their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 9th. Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, June 21st. Susquehanna upped their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a "positive" rating in a research note on Wednesday, July 17th. Wolfe Research cut shares of QUALCOMM from an "outperform" rating to a "peer perform" rating in a report on Monday, August 12th. Finally, Mizuho boosted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, May 31st. One investment 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.63.

Insider Buying and Selling at QUALCOMM

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