IronOak Wealth LLC. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

IronOak Wealth LLC. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,847 shares of the wireless technology company's stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $240,000. Greenup Street Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $2,256,000. Teza Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $1,541,000. Finally, Purkiss Capital Advisors LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $303,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 425,068 shares of company stock valued at $8,418,305 in the last ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Stock Performance

QUALCOMM stock traded down $3.12 during mid-day trading on Friday, reaching $145.22. 13,752,285 shares of the company traded hands, compared to its average volume of 8,785,850. 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a market capitalization of $159.45 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm's fifty day moving average is $144.30 and its two-hundred day moving average is $155.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

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.