TigerOak Management L.L.C. Takes $284,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

TigerOak Management L.L.C. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,846 shares of the wireless technology company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Pacer Advisors Inc. boosted its holdings in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the period. International Assets Investment Management LLC raised its stake in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Up 0.0 %

NASDAQ:QCOM opened at $172.23 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The stock’s 50-day moving average is $163.13 and its two-hundred day moving average is $165.50. The stock has a market cap of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s payout ratio is 36.32%.

QUALCOMM Company 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.