Canada Pension Plan Investment Board Purchases 468,500 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Canada Pension Plan Investment Board raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 40.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,621,175 shares of the wireless technology company’s stock after acquiring an additional 468,500 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.15% of QUALCOMM worth $322,906,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of QCOM. Pine Haven Investment Counsel Inc raised its stake in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after buying an additional 50 shares during the period. Buffington Mohr McNeal raised its stake in shares of QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares during the period. TRUE Private Wealth Advisors raised its stake in shares of QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares during the period. Macroview Investment Management LLC raised its stake in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. raised its stake in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $173.92 on Friday. The firm has a market capitalization of $194.09 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The business has a 50 day simple moving average of $173.19 and a 200-day simple moving average of $182.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. KeyCorp raised their price objective on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Rosenblatt Securities increased their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

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.