QUALCOMM Incorporated (NASDAQ:QCOM) is Oak Asset Management LLC’s 5th Largest Position

Oak Asset Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,010 shares of the wireless technology company’s stock after selling 338 shares during the period. QUALCOMM accounts for 3.5% of Oak Asset Management LLC’s portfolio, making the stock its 5th biggest position. Oak Asset Management LLC’s holdings in QUALCOMM were worth $9,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP bought a new stake in QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $42,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $157.13 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The stock has a 50-day simple moving average of $159.51 and a two-hundred day simple moving average of $169.65. The firm has a market capitalization of $174.57 billion, a P/E ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein upped 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. Finally, Evercore ISI boosted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

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.