Cardinal Capital Management Buys 2,174 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cardinal Capital Management boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,485 shares of the wireless technology company’s stock after acquiring an additional 2,174 shares during the period. QUALCOMM accounts for approximately 1.6% of Cardinal Capital Management’s holdings, making the stock its 16th biggest holding. Cardinal Capital Management’s holdings in QUALCOMM were worth $10,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. First Citizens Bank & Trust Co. raised its position in shares of QUALCOMM by 2.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,528 shares of the wireless technology company’s stock worth $770,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of QUALCOMM by 24.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 483,029 shares of the wireless technology company’s stock worth $82,139,000 after acquiring an additional 94,169 shares during the last quarter. Narus Financial Partners LLC raised its stake in shares of QUALCOMM by 9.9% in the third quarter. Narus Financial Partners LLC now owns 4,051 shares of the wireless technology company’s stock worth $689,000 after buying an additional 365 shares during the period. Gilliland Jeter Wealth Management LLC boosted its position in shares of QUALCOMM by 5.3% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 1,380 shares of the wireless technology company’s stock worth $235,000 after purchasing an additional 70 shares during the period. Finally, Trilogy Capital Inc. raised its holdings in QUALCOMM by 9.7% during the third quarter. Trilogy Capital Inc. now owns 19,179 shares of the wireless technology company’s stock valued at $3,261,000 after acquiring an additional 1,698 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.0 %

Shares of QCOM stock opened at $172.23 on Tuesday. The stock has a 50 day moving average of $163.13 and a 200 day moving average of $165.39. QUALCOMM Incorporated has a twelve month low of $148.90 and a twelve month high of $230.63. The stock has a market cap of $190.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

Several analysts have commented on QCOM shares. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is 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.