Ontario Teachers Pension Plan Board Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Ontario Teachers Pension Plan Board boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,685 shares of the wireless technology company's stock after buying an additional 4,351 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in QUALCOMM were worth $3,859,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor OS LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at about $229,000. Main Street Financial Solutions LLC lifted its stake in shares of QUALCOMM by 20.0% in the 3rd quarter. Main Street Financial Solutions LLC now owns 6,361 shares of the wireless technology company's stock valued at $706,000 after purchasing an additional 1,061 shares during the period. Larson Financial Group LLC lifted its stake in shares of QUALCOMM by 27.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,567 shares of the wireless technology company's stock valued at $174,000 after purchasing an additional 338 shares during the period. Column Capital Advisors LLC lifted its stake in shares of QUALCOMM by 64.5% in the 3rd quarter. Column Capital Advisors LLC now owns 816 shares of the wireless technology company's stock valued at $91,000 after purchasing an additional 320 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of QUALCOMM by 8.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,330,337 shares of the wireless technology company's stock valued at $147,747,000 after purchasing an additional 106,606 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an "underweight" rating in a research note on Thursday, May 2nd. Morgan Stanley upped their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 2nd. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Finally, Mizuho upped their price target on QUALCOMM from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and a consensus target price of $180.48.

Insider Activity

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company's stock, valued at $1,185,947.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company's stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 70,074 shares of company stock valued at $12,258,386 over the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.08 during trading on Wednesday, hitting $202.93. The company's stock had a trading volume of 11,157,750 shares, compared to its average volume of 8,640,197. The company has a market cap of $226.47 billion, a PE ratio of 27.28, a P/E/G ratio of 2.45 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $173.97 and a 200-day moving average of $154.04. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $204.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.81 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.68%. QUALCOMM's dividend payout ratio is currently 43.01%.

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.