Oak Associates Ltd. OH Has $63.32 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oak Associates Ltd. OH trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,879 shares of the wireless technology company’s stock after selling 2,372 shares during the period. QUALCOMM comprises about 4.2% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 5th biggest position. Oak Associates Ltd. OH’s holdings in QUALCOMM were worth $63,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new stake in QUALCOMM during the first quarter worth about $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at $39,000. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 in the last three months. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Robert W. Baird upped their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Price Performance

Shares of QCOM stock opened at $167.73 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market cap of $186.85 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.82 and a beta of 1.28. The stock has a 50-day moving average price of $176.11 and a 200 day moving average price of $181.86.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Research analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

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.