Healthcare of Ontario Pension Plan Trust Fund Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Healthcare of Ontario Pension Plan Trust Fund raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 593.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,081,864 shares of the wireless technology company’s stock after buying an additional 925,851 shares during the quarter. QUALCOMM makes up approximately 0.6% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 29th biggest position. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.10% of QUALCOMM worth $215,486,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $873,000. Jones Financial Companies Lllp increased its holdings in shares of QUALCOMM by 171.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock valued at $338,000 after purchasing an additional 1,479 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of QUALCOMM by 206.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 165,643 shares of the wireless technology company’s stock worth $23,957,000 after purchasing an additional 111,599 shares during the last quarter. Exencial Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 2.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 125,223 shares of the wireless technology company’s stock worth $18,111,000 after purchasing an additional 2,738 shares during the period. Finally, Pinnacle West Asset Management Inc. grew its position in QUALCOMM by 5.0% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 5,360 shares of the wireless technology company’s stock valued at $775,000 after buying an additional 255 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 25,245 shares of company stock worth $4,296,237 in the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $168.32 on Thursday. The company has a 50-day simple moving average of $168.35 and a 200-day simple moving average of $182.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a market cap of $187.51 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.