Guinness Asset Management LTD decreased its position in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,509 shares of the wireless technology company’s stock after selling 3,334 shares during the quarter. Guinness Asset Management LTD’s holdings in Qualcomm were worth $8,933,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of QCOM. Cloud Capital Management LLC acquired a new stake in shares of Qualcomm in the third quarter valued at $27,000. Richardson Financial Services Inc. lifted its holdings in shares of Qualcomm by 90.9% in the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock valued at $29,000 after buying an additional 80 shares during the period. Torren Management LLC acquired a new stake in shares of Qualcomm in the fourth quarter valued at $29,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Qualcomm by 113.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company’s stock valued at $32,000 after buying an additional 101 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Qualcomm in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
Qualcomm Stock Up 11.6%
Shares of Qualcomm stock opened at $238.16 on Friday. The stock has a 50-day moving average price of $154.82 and a 200 day moving average price of $158.89. The company has a market cap of $251.02 billion, a P/E ratio of 25.89, a P/E/G ratio of 26.43 and a beta of 1.49. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.54. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $247.90.
Qualcomm announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to purchase up to 14.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Qualcomm Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.5%. This is an increase from Qualcomm’s previous quarterly dividend of $0.89. Qualcomm’s dividend payout ratio (DPR) is currently 38.70%.
Insiders Place Their Bets
In related news, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the sale, the executive vice president directly owned 39,735 shares of the company’s stock, valued at approximately $7,065,677.70. This represents a 7.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $211.90, for a total value of $529,750.00. Following the completion of the sale, the executive vice president directly owned 28,184 shares of the company’s stock, valued at approximately $5,972,189.60. This represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,306 shares of company stock valued at $3,435,583 in the last 90 days. Insiders own 0.05% of the company’s stock.
Trending Headlines about Qualcomm
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Stellantis expanded its multi-year technology partnership with Qualcomm, strengthening Qualcomm’s position in AI-enabled connected and autonomous vehicles. Qualcomm soars 12% as Stellantis deepens AI vehicle partnership
- Positive Sentiment: Analysts and market commentary highlighted Qualcomm’s strong comeback and suggested the rally may continue, with some calling for meaningful further upside. Prediction: Analysts Say Qualcomm Stock Is Set For A Massive Breakout
- Neutral Sentiment: Additional coverage framed Qualcomm as a beneficiary of broader AI and mobile-chip enthusiasm, with shares moving alongside other chip names such as Skyworks and Qorvo. Qualcomm Surges 12%, Skyworks Rallies 9%, Qorvo Rises 7%
- Neutral Sentiment: Insider and congressional stock sales were disclosed, but they appear modest relative to Qualcomm’s size and some transactions were pre-arranged, so the impact is likely limited. Patricia Grech Sells 829 Shares of Qualcomm (NASDAQ:QCOM) Stock
Wall Street Analysts Forecast Growth
QCOM has been the subject of several research analyst reports. Tigress Financial upped their price objective on Qualcomm from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group started coverage on Qualcomm in a report on Monday, March 30th. They set a “neutral” rating and a $135.00 target price for the company. Morgan Stanley started coverage on Qualcomm in a report on Friday, May 8th. They set an “overweight” rating for the company. Zacks Research raised Qualcomm from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $190.00 target price on shares of Qualcomm in a report on Thursday, April 30th. Fourteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Qualcomm has an average rating of “Hold” and a consensus price target of $181.79.
View Our Latest Stock Analysis on Qualcomm
Qualcomm Company Profile
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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