TigerOak Management L.L.C. Purchases Shares of 1,846 QUALCOMM Incorporated (NASDAQ:QCOM)

TigerOak Management L.L.C. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,846 shares of the wireless technology company’s stock, valued at approximately $284,000.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. grew its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the fourth quarter valued at about $240,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on QCOM shares. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $172.23 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The stock has a 50 day moving average of $163.13 and a 200-day moving average of $165.50. The company has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its 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 return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

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 issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Buying and Selling

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

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.