Lincoln Capital Corp Makes New $2.76 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Lincoln Capital Corp bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 16,320 shares of the wireless technology company’s stock, valued at approximately $2,763,000. QUALCOMM accounts for 1.2% of Lincoln Capital Corp’s investment portfolio, making the stock its 25th biggest holding.

Several other large investors have also modified their holdings of QCOM. CarsonAllaria Wealth Management Ltd. boosted its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC boosted its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Financial Gravity Asset Management Inc. grew its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in QUALCOMM in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,206,875 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 2.3 %

Shares of NASDAQ:QCOM traded up $4.42 during midday trading on Friday, reaching $199.57. The company’s stock had a trading volume of 4,580,910 shares, compared to its average volume of 9,282,613. The firm has a market cap of $222.72 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The business has a 50 day moving average price of $194.32 and a 200 day moving average price of $168.60. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. Mizuho upped their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Evercore ISI assumed coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

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.