Canada Pension Plan Investment Board Purchases 209,136 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Canada Pension Plan Investment Board boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,045,586 shares of the wireless technology company's stock after acquiring an additional 209,136 shares during the period. Canada Pension Plan Investment Board owned 0.09% of QUALCOMM worth $160,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $201.21.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 648 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares of the company's stock, valued at $7,964,953.95. This represents a 1.13 % 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, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.21 during trading hours on Tuesday, hitting $137.35. The company's stock had a trading volume of 2,311,598 shares, compared to its average volume of 8,849,220. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The business has a 50 day moving average price of $152.41 and a two-hundred day moving average price of $160.05. The company has a market cap of $151.90 billion, a PE ratio of 14.69, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced 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 represents a $3.56 annualized dividend and a dividend yield of 2.59%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is 36.32%.

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.