Guinness Asset Management LTD Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Guinness Asset Management LTD increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,631 shares of the wireless technology company's stock after purchasing an additional 7,111 shares during the quarter. Guinness Asset Management LTD's holdings in QUALCOMM were worth $7,010,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th. Finally, Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued 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 currently has an average rating of "Moderate Buy" and a consensus target price of $206.57.

QUALCOMM Stock Up 1.9 %

Shares of QCOM traded up $3.13 on Monday, reaching $164.56. The stock had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a 50-day simple moving average of $158.85 and a 200-day simple moving average of $168.57. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month 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 - Get Free Report) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share 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 predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM's payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.