Hancock Whitney Corp Has $5.27 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

25 Nov 2024, 17:24 by Tristan Rich · The Markets Daily

Hancock Whitney Corp raised its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 7.4% in the third quarter, HoldingsChannel reports. The fund owned 30,965 shares of the wireless technology company’s stock after purchasing an additional 2,137 shares during the quarter. Hancock Whitney Corp’s holdings in QUALCOMM were worth $5,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. 1832 Asset Management L.P. lifted its stake in shares of QUALCOMM by 13.2% in the first quarter. 1832 Asset Management L.P. now owns 14,862 shares of the wireless technology company’s stock valued at $2,516,000 after buying an additional 1,729 shares in the last quarter. Paloma Partners Management Co bought a new stake in QUALCOMM during the 1st quarter worth approximately $208,000. Silvercrest Asset Management Group LLC raised its stake in shares of QUALCOMM by 28.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 44,512 shares of the wireless technology company’s stock worth $7,536,000 after purchasing an additional 9,913 shares during the last quarter. Waverly Advisors LLC raised its stake in shares of QUALCOMM by 209.4% in the first quarter. Waverly Advisors LLC now owns 25,116 shares of the wireless technology company’s stock worth $4,252,000 after purchasing an additional 16,998 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of QUALCOMM by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,479,809 shares of the wireless technology company’s stock valued at $250,488,000 after purchasing an additional 33,974 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.1 %

QCOM opened at $158.50 on Monday. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63. The company has a market cap of $176.09 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $167.82 and a 200 day moving average of $181.59.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % 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. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

Get Our Latest Report on QUALCOMM

QUALCOMM Profile

(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.