QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 20.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,237 shares of the wireless technology company's stock after selling 2,852 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in QUALCOMM were worth $1,726,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Te Ahumairangi Investment Management Ltd boosted its stake in shares of QUALCOMM by 60.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock valued at $6,349,000 after purchasing an additional 14,213 shares in the last quarter. Anchor Investment Management LLC boosted its position in QUALCOMM by 2.2% during the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after acquiring an additional 747 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of QUALCOMM by 304.0% in the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock valued at $7,680,000 after acquiring an additional 33,985 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of QUALCOMM by 620.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock worth $9,466,000 after acquiring an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its stake in shares of QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock worth $2,309,000 after purchasing an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 648 shares of the business'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 completion of the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.80 during trading hours on Friday, hitting $136.54. The stock had a trading volume of 7,093,008 shares, compared to its average volume of 8,877,869. The firm has a 50-day moving average price of $153.10 and a 200 day moving average price of $160.28. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. 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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on QCOM shares. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Piper Sandler cut 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. Finally, StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $201.21.

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.