Cardinal Capital Management Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cardinal Capital Management decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,484 shares of the wireless technology company’s stock after selling 684 shares during the period. QUALCOMM accounts for about 1.6% of Cardinal Capital Management’s holdings, making the stock its 14th biggest position. Cardinal Capital Management’s holdings in QUALCOMM were worth $8,603,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Janiczek Wealth Management LLC lifted its holdings in shares of QUALCOMM by 4.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 4,260 shares of the wireless technology company’s stock worth $616,000 after acquiring an additional 183 shares during the last quarter. Cerity Partners LLC raised its holdings in QUALCOMM by 45.5% during the 4th quarter. Cerity Partners LLC now owns 267,335 shares of the wireless technology company’s stock valued at $38,665,000 after buying an additional 83,555 shares during the last quarter. Indie Asset Partners LLC bought a new stake in QUALCOMM during the 4th quarter valued at $230,000. Sandy Spring Bank raised its holdings in QUALCOMM by 10.0% during the 4th quarter. Sandy Spring Bank now owns 32,378 shares of the wireless technology company’s stock valued at $4,683,000 after buying an additional 2,941 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in QUALCOMM by 6.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,691 shares of the wireless technology company’s stock valued at $823,000 after buying an additional 367 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.7 %

Shares of NASDAQ:QCOM traded up $1.14 during midday trading on Thursday, reaching $172.00. The company’s stock had a trading volume of 1,854,061 shares, compared to its average volume of 8,617,396. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The firm has a 50 day moving average of $161.83 and a 200-day moving average of $140.12. The firm has a market capitalization of $191.95 billion, a P/E ratio of 24.89, a PEG ratio of 2.37 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QCOM. Barclays upped their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.90.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by 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.