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

Ontario Teachers Pension Plan Board lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley lifted its position in QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. Northern Trust Corp lifted its position in QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 shares in the last quarter. Finally, Invesco Ltd. lifted its position in QUALCOMM by 15.7% during the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after buying an additional 1,253,173 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.0 %

Shares of QCOM traded up $2.08 during trading hours on Wednesday, reaching $202.93. The company’s stock had a trading volume of 11,120,004 shares, compared to its average volume of 8,640,141. The firm has a market cap of $226.47 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.45 and a beta of 1.33. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $204.84. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $173.30 and a two-hundred day moving average of $153.70.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 7.81 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Barclays boosted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho boosted their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird boosted their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $180.48.

Insider Buying and Selling at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 68,958 shares of company stock worth $12,039,527 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.