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

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 759,469 shares of the wireless technology company’s stock after selling 322,395 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.07% of QUALCOMM worth $129,148,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Glenmede Trust Co. NA grew its position in shares of QUALCOMM by 0.7% during the third quarter. Glenmede Trust Co. NA now owns 486,014 shares of the wireless technology company’s stock valued at $82,647,000 after purchasing an additional 3,455 shares in the last quarter. Bridgewater Associates LP grew its position in shares of QUALCOMM by 1,968.1% during the third quarter. Bridgewater Associates LP now owns 796,997 shares of the wireless technology company’s stock valued at $135,529,000 after purchasing an additional 758,459 shares in the last quarter. Freedom Investment Management Inc. grew its position in shares of QUALCOMM by 11.5% during the third quarter. Freedom Investment Management Inc. now owns 16,182 shares of the wireless technology company’s stock valued at $2,752,000 after purchasing an additional 1,667 shares in the last quarter. Capital Counsel LLC NY increased its stake in QUALCOMM by 1.7% during the third quarter. Capital Counsel LLC NY now owns 583,346 shares of the wireless technology company’s stock worth $99,198,000 after acquiring an additional 9,669 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in QUALCOMM by 11.8% during the third quarter. Townsquare Capital LLC now owns 151,650 shares of the wireless technology company’s stock valued at $25,788,000 after purchasing an additional 16,054 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Down 1.2 %

Shares of QUALCOMM stock opened at $156.93 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The firm’s 50-day moving average is $167.43 and its two-hundred day moving average is $181.26. The stock has a market cap of $174.35 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,450 shares of company stock worth $2,911,306. Corporate insiders own 0.08% of the company’s stock.

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.