Linscomb Wealth Inc. Sells 1,270 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Linscomb Wealth Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,064 shares of the wireless technology company’s stock after selling 1,270 shares during the period. QUALCOMM comprises approximately 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 18th biggest holding. Linscomb Wealth Inc.’s holdings in QUALCOMM were worth $14,465,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter valued at $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the second quarter valued at $32,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the third 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 last quarter. Finally, Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on QCOM shares. Loop Capital started coverage on shares of QUALCOMM in a report on Monday. They set a “hold” rating and a $180.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Price Performance

NASDAQ QCOM traded down $1.14 during trading hours on Friday, hitting $162.83. 1,313,720 shares of the company’s stock traded hands, compared to its average volume of 8,983,216. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a market capitalization of $180.90 billion, a PE ratio of 18.13, a PEG ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm’s 50-day moving average is $168.30 and its 200-day moving average is $182.16.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.