Linscomb & Williams Inc. Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Linscomb & Williams Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,973 shares of the wireless technology company’s stock after selling 3,426 shares during the quarter. QUALCOMM accounts for 0.7% of Linscomb & Williams Inc.’s portfolio, making the stock its 17th biggest holding. Linscomb & Williams Inc.’s holdings in QUALCOMM were worth $13,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the period. Morgan Stanley lifted its holdings in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares during the period. Norges Bank bought a new position in QUALCOMM in the fourth quarter valued at about $2,507,978,000. Northern Trust Corp raised its stake in shares of QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after buying an additional 415,398 shares during the period. Finally, Invesco Ltd. raised its stake in shares of QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after buying an additional 1,253,173 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 4.3 %

Shares of QCOM stock traded up $8.60 on Friday, reaching $210.36. 13,809,903 shares of the company’s stock were exchanged, compared to its average volume of 9,331,276. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $211.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $234.76 billion, a PE ratio of 28.27, a P/E/G ratio of 2.60 and a beta of 1.33. The company’s fifty day simple moving average is $175.50 and its 200 day simple moving average is $155.24.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.62%. QUALCOMM’s payout ratio is 43.01%.

Analysts Set New Price Targets

QCOM has been the topic of several recent research reports. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. KeyCorp raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group increased their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Bank of America increased their target price on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 70,074 shares of company stock valued at $12,258,386 in 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.