QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Oak Family Advisors LLC

Oak Family Advisors LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 72,544 shares of the wireless technology company’s stock after buying an additional 3,399 shares during the quarter. QUALCOMM comprises approximately 3.8% of Oak Family Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Oak Family Advisors LLC’s holdings in QUALCOMM were worth $11,143,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Howard Bailey Securities LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $240,000. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth $1,541,000. Purkiss Capital Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $303,000. Amundi raised its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors lifted its position in shares of QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock worth $24,083,000 after purchasing an additional 45,769 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 4.1%

Shares of QCOM stock opened at $155.41 on Tuesday. The firm has a market cap of $170.64 billion, a P/E ratio of 16.60, a PEG ratio of 2.01 and a beta of 1.26. The firm’s 50-day simple moving average is $143.64 and its 200-day simple moving average is $155.11. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 earnings per share. 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 declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the company’s 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 completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were 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. Insiders have sold 425,064 shares of company stock valued at $8,381,948 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Finally, Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $189.88.

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.