Guinness Atkinson Asset Management Inc Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Guinness Atkinson Asset Management Inc raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 817 shares of the wireless technology company’s stock after buying an additional 177 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in QUALCOMM were worth $126,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the period. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc boosted its position in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last quarter. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

QUALCOMM stock opened at $164.56 on Monday. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $158.85 and a 200-day moving average price of $168.82. The firm has a market capitalization of $182.83 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

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 the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

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