Silver Oak Securities Incorporated Acquires 2,585 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Oak Securities Incorporated increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.4% in the fourth quarter, HoldingsChannel reports. The firm owned 11,381 shares of the wireless technology company’s stock after purchasing an additional 2,585 shares during the period. Silver Oak Securities Incorporated’s holdings in QUALCOMM were worth $1,759,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new position in QUALCOMM during the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ:QCOM opened at $175.86 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $195.38 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $142.43 and a 12 month high of $230.63. The company’s 50-day moving average price is $161.70 and its two-hundred day moving average price is $166.02.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.93%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 over the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.04.

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.