Hancock Whitney Corp grew its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.4% in the 1st quarter, HoldingsChannel reports. The fund owned 56,563 shares of the wireless technology company’s stock after purchasing an additional 228 shares during the quarter. Hancock Whitney Corp’s holdings in QUALCOMM were worth $3,227,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Farmers National Bank bought a new stake in QUALCOMM in the first quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in QUALCOMM in the first quarter worth approximately $29,000. Field & Main Bank bought a new stake in QUALCOMM in the first quarter worth approximately $32,000. Baldwin Brothers Inc. MA bought a new stake in QUALCOMM in the first quarter worth approximately $34,000. Finally, Transamerica Financial Advisors Inc. grew its position in QUALCOMM by 688.5% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 537 shares in the last quarter. 76.38% of the stock is owned by institutional investors.

In related news, major shareholder Inc/De Qualcomm sold 848,877 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the transaction, the insider now directly owns 848,877 shares in the company, valued at approximately $29,031,593.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Clark T. Jr. Randt sold 2,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 949,832 shares of company stock valued at $37,443,538. Corporate insiders own 0.11% of the company’s stock.

QCOM has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. initiated coverage on shares of QUALCOMM in a report on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective for the company. Finally, Stifel Nicolaus raised shares of QUALCOMM from a “hold” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $100.00 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. QUALCOMM has a consensus rating of “Buy” and an average target price of $79.68.

NASDAQ:QCOM opened at $68.72 on Friday. The firm has a market cap of $83.54 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.52 and a beta of 1.59. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. As a group, analysts forecast that QUALCOMM, Inc. will post 3.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.61%. The ex-dividend date is Wednesday, June 5th. QUALCOMM’s payout ratio is currently 77.74%.

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About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

Further Reading: Guidelines for Successful Channel Trading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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