Truist Financial Corp Has $158.38 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Truist Financial Corp trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,030,992 shares of the wireless technology company’s stock after selling 45,229 shares during the period. Truist Financial Corp owned approximately 0.09% of QUALCOMM worth $158,381,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Quarterback LLC lifted its holdings in QUALCOMM by 9.2% in the fourth quarter. Wealth Quarterback LLC now owns 3,374 shares of the wireless technology company’s stock valued at $518,000 after buying an additional 283 shares during the period. CIBC Asset Management Inc lifted its holdings in QUALCOMM by 2.3% in the fourth quarter. CIBC Asset Management Inc now owns 394,029 shares of the wireless technology company’s stock valued at $60,531,000 after buying an additional 8,736 shares during the period. Evergreen Wealth Management LLC lifted its holdings in QUALCOMM by 1.6% in the fourth quarter. Evergreen Wealth Management LLC now owns 12,082 shares of the wireless technology company’s stock valued at $1,856,000 after buying an additional 191 shares during the period. Sanctuary Advisors LLC lifted its holdings in QUALCOMM by 10.3% in the fourth quarter. Sanctuary Advisors LLC now owns 254,048 shares of the wireless technology company’s stock valued at $39,027,000 after buying an additional 23,721 shares during the period. Finally, KLCM Advisors Inc. lifted its holdings in QUALCOMM by 7.9% in the fourth quarter. KLCM Advisors Inc. now owns 2,735 shares of the wireless technology company’s stock valued at $420,000 after buying an additional 201 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.0 %

QUALCOMM stock opened at $172.23 on Monday. The company has a market cap of $190.49 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The company has a fifty day simple moving average of $163.13 and a 200 day simple moving average of $165.39. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last quarter. 0.08% of the stock is currently owned by insiders.

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.