Trustmark National Bank Trust Department Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Trustmark National Bank Trust Department reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,074 shares of the wireless technology company’s stock after selling 1,283 shares during the quarter. Trustmark National Bank Trust Department’s holdings in QUALCOMM were worth $1,203,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter worth $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter worth $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter worth $32,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,450 shares of company stock worth $2,911,306. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $155.42 on Friday. The business has a 50 day simple moving average of $168.04 and a two-hundred day simple moving average of $181.75. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The stock has a market capitalization of $172.67 billion, a P/E ratio of 17.29, a PEG ratio of 2.77 and a beta of 1.28. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.19%. QUALCOMM’s payout ratio is 37.82%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

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.