Guinness Asset Management LTD Has $7.01 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Guinness Asset Management LTD raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 45,631 shares of the wireless technology company’s stock after acquiring an additional 7,111 shares during the period. Guinness Asset Management LTD’s holdings in QUALCOMM were worth $7,010,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter worth $26,000. HWG Holdings LP acquired a new stake in QUALCOMM in the 2nd quarter valued at $30,000. Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QCOM opened at $164.56 on Monday. The firm has a market cap of $182.83 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The business’s fifty day moving average is $158.85 and its 200-day moving average is $168.82. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is presently 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.