Radnor Capital Management LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Radnor Capital Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,447 shares of the wireless technology company’s stock after purchasing an additional 888 shares during the quarter. Radnor Capital Management LLC’s holdings in QUALCOMM were worth $4,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC raised its position in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter worth $2,721,882,000. Amundi raised its position in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $149.24 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock’s 50 day moving average price is $143.61 and its 200 day moving average price is $155.12. The firm has a market cap of $163.87 billion, a P/E ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 425,064 shares of company stock valued at $8,381,948 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Susquehanna reduced their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Evercore ISI reduced their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Citigroup reduced their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $189.88.

QUALCOMM Company Profile

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.