Cardinal Capital Management Buys 3,504 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cardinal Capital Management raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,988 shares of the wireless technology company’s stock after acquiring an additional 3,504 shares during the period. QUALCOMM makes up 1.7% of Cardinal Capital Management’s portfolio, making the stock its 11th biggest position. Cardinal Capital Management’s holdings in QUALCOMM were worth $10,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. raised its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC boosted its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $35,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QCOM traded down $2.18 during trading on Thursday, hitting $195.15. 11,878,948 shares of the company traded hands, compared to its average volume of 9,320,263. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $217.79 billion, a PE ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.30. The stock’s 50-day simple moving average is $194.32 and its two-hundred day simple moving average is $168.60. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.74%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Piper Sandler upped their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group raised their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird upped their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by corporate insiders.

QUALCOMM 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.