Trustmark National Bank Trust Department lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,103 shares of the wireless technology company's stock after selling 1,971 shares during the period. Trustmark National Bank Trust Department's holdings in QUALCOMM were worth $784,000 at the end of the most recent quarter.
- MarketBeat Week in Review — 04/07 - 04/11
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its position in QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi increased its stake in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock worth $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.
Insider Activity
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock worth $5,047,052 over the last ninety days. 0.08% of the stock is currently owned by insiders.
Analyst Ratings Changes
- Qualcomm Breaks Down But RSI Signals It’s Severely Oversold
A number of equities research analysts have commented on QCOM shares. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $201.21.
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QUALCOMM Price Performance
- MarketBeat Week in Review – 03/31 - 04/04
QUALCOMM stock opened at $139.19 on Tuesday. The company has a market cap of $153.94 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The business has a fifty day moving average of $155.76 and a two-hundred day moving average of $161.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly 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 return on equity of 39.51% and a net margin of 25.94%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
About QUALCOMM
(Free Report)
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.
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Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).
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