Randolph Co Inc Makes New $880,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Randolph Co Inc bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,728 shares of the wireless technology company's stock, valued at approximately $880,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TBH Global Asset Management LLC lifted its position in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 63 shares during the period. PDS Planning Inc lifted its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after buying an additional 65 shares during the period. CFS Investment Advisory Services LLC lifted its holdings in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after buying an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after buying an additional 65 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock worth $5,047,052 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 8.9 %

Shares of QUALCOMM stock traded down $13.25 on Thursday, reaching $135.21. 22,792,863 shares of the company were exchanged, compared to its average volume of 8,939,605. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a market cap of $149.54 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock's 50 day moving average price is $148.68 and its 200-day moving average price is $159.06.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business 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 company posted $2.44 earnings per share. The business's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.63%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analyst Weigh In

Several analysts have commented on QCOM shares. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday. Finally, Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $194.11.

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.