Ontario Teachers Pension Plan Board Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Ontario Teachers Pension Plan Board decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,089 shares of the wireless technology company's stock after selling 8,946 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in QUALCOMM were worth $2,396,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its stake in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock worth $60,264,000 after acquiring an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company's stock valued at $30,068,000 after acquiring an additional 50,438 shares during the last quarter. Aljian Capital Management LLC acquired a new stake in shares of QUALCOMM in the third quarter worth $1,820,000. Czech National Bank grew its stake in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after buying an additional 13,888 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock worth $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company's stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction on 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 directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on QCOM. DZ Bank upgraded QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Benchmark restated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday. Finally, Wolfe Research cut QUALCOMM from an "outperform" rating to a "peer perform" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $210.15.

QUALCOMM Stock Down 6.3 %

NASDAQ:QCOM traded down $10.44 on Wednesday, hitting $154.27. The stock had a trading volume of 14,454,817 shares, compared to its average volume of 9,027,241. The stock has a market cap of $171.39 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm's fifty day simple moving average is $168.48 and its two-hundred day simple moving average is $182.13.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

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.