Truist Financial Corp Sells 45,229 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Truist Financial Corp trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,030,992 shares of the wireless technology company's stock after selling 45,229 shares during the period. Truist Financial Corp owned about 0.09% of QUALCOMM worth $158,381,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QCOM. Wealth Quarterback LLC grew its position in shares of QUALCOMM by 9.2% in the 4th quarter. Wealth Quarterback LLC now owns 3,374 shares of the wireless technology company's stock worth $518,000 after buying an additional 283 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of QUALCOMM by 2.3% in the 4th quarter. CIBC Asset Management Inc now owns 394,029 shares of the wireless technology company's stock worth $60,531,000 after purchasing an additional 8,736 shares in the last quarter. Evergreen Wealth Management LLC increased its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. Evergreen Wealth Management LLC now owns 12,082 shares of the wireless technology company's stock worth $1,856,000 after purchasing an additional 191 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of QUALCOMM by 10.3% in the fourth quarter. Sanctuary Advisors LLC now owns 254,048 shares of the wireless technology company's stock worth $39,027,000 after acquiring an additional 23,721 shares during the period. Finally, KLCM Advisors Inc. grew its holdings in shares of QUALCOMM by 7.9% in the fourth quarter. KLCM Advisors Inc. now owns 2,735 shares of the wireless technology company's stock worth $420,000 after acquiring an additional 201 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,964 shares of company stock worth $7,583,661 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM traded down $1.52 on Thursday, hitting $173.70. 6,309,748 shares of the stock were exchanged, compared to its average volume of 7,640,596. The business has a 50-day moving average of $164.01 and a two-hundred day moving average of $165.61. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $192.11 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. Benchmark reiterated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.