Silver Oak Securities Incorporated Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Oak Securities Incorporated raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,272 shares of the wireless technology company's stock after buying an additional 1,891 shares during the period. Silver Oak Securities Incorporated's holdings in QUALCOMM were worth $2,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Calamos Advisors LLC boosted its position in QUALCOMM by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 215,882 shares of the wireless technology company's stock valued at $33,162,000 after buying an additional 2,364 shares during the period. Sitrin Capital Management LLC boosted its position in QUALCOMM by 0.9% in the 1st quarter. Sitrin Capital Management LLC now owns 30,448 shares of the wireless technology company's stock valued at $4,677,000 after buying an additional 274 shares during the period. Moody Aldrich Partners LLC purchased a new position in QUALCOMM in the 1st quarter valued at approximately $257,000. Aurora Private Wealth Inc. purchased a new position in QUALCOMM in the 1st quarter valued at approximately $1,826,000. Finally, Onyx Bridge Wealth Group LLC boosted its position in QUALCOMM by 6.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 3,799 shares of the wireless technology company's stock valued at $584,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $0.22 during trading on Friday, reaching $162.11. The company's stock had a trading volume of 4,280,773 shares, compared to its average volume of 8,538,196. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a market cap of $177.99 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The business's fifty day moving average price is $151.32 and its 200-day moving average price is $154.93.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were paid a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. QUALCOMM's payout ratio is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,016 shares of company stock worth $8,437,440. 0.08% of the stock is owned by company insiders.

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.