QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Increased by Cardinal Capital Management

Cardinal Capital Management raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,410 shares of the wireless technology company’s stock after buying an additional 925 shares during the quarter. QUALCOMM comprises 1.6% of Cardinal Capital Management’s portfolio, making the stock its 17th largest position. Cardinal Capital Management’s holdings in QUALCOMM were worth $10,201,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Robert W. Baird cut their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $189.88.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction 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. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock worth $8,135,164. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.4%

Shares of NASDAQ:QCOM opened at $156.87 on Tuesday. 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 has a market capitalization of $172.24 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a 50 day moving average price of $146.50 and a 200 day moving average price of $155.12.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $2.44 EPS. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS 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 paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.27%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

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.