Guinness Asset Management LTD Purchases 3,729 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Guinness Asset Management LTD boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 10.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,859 shares of the wireless technology company’s stock after buying an additional 3,729 shares during the quarter. Guinness Asset Management LTD’s holdings in QUALCOMM were worth $5,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. EagleClaw Capital Managment LLC raised its holdings in QUALCOMM by 2.2% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 44,550 shares of the wireless technology company’s stock worth $5,748,000 after purchasing an additional 975 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in QUALCOMM in the 3rd quarter worth $36,000. Cetera Advisors LLC raised its holdings in QUALCOMM by 23.6% in the 3rd quarter. Cetera Advisors LLC now owns 33,344 shares of the wireless technology company’s stock worth $4,301,000 after purchasing an additional 6,362 shares in the last quarter. Captrust Financial Advisors raised its holdings in QUALCOMM by 3.2% in the 3rd quarter. Captrust Financial Advisors now owns 181,619 shares of the wireless technology company’s stock worth $23,425,000 after purchasing an additional 5,673 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new position in QUALCOMM in the 3rd quarter worth $264,000. Institutional investors and hedge funds own 73.61% of the company’s stock.

A number of research firms have recently weighed in on QCOM. Tigress Financial upped their target price on shares of QUALCOMM from $195.00 to $238.00 in a research report on Thursday, May 5th. Barclays reduced their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Sumitomo Mitsui Financial Group downgraded shares of QUALCOMM from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $215.00 to $155.00 in a research report on Monday, April 18th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $240.00 to $205.00 in a research report on Tuesday, April 5th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.48.

Shares of QCOM opened at $122.16 on Thursday. The firm has a market cap of $136.82 billion, a PE ratio of 12.50, a P/E/G ratio of 0.69 and a beta of 1.20. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $135.63 and a two-hundred day simple moving average of $157.00. QUALCOMM Incorporated has a 1-year low of $118.36 and a 1-year high of $193.58.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The firm had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 11.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.75 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.46%. QUALCOMM’s payout ratio is presently 30.71%.

In other news, CAO Erin L. Polek sold 1,521 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

About QUALCOMM (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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