Linscomb Wealth Inc. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Linscomb Wealth Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,010 shares of the wireless technology company’s stock after buying an additional 946 shares during the period. QUALCOMM comprises 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 21st largest holding. Linscomb Wealth Inc.’s holdings in QUALCOMM were worth $13,213,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 4.7 %

QCOM opened at $154.44 on Friday. The business has a 50 day moving average price of $164.85 and a two-hundred day moving average price of $165.68. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a market cap of $170.81 billion, a PE ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock valued at $7,713,734 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.