Trilogy Capital Inc. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Trilogy Capital Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,749 shares of the wireless technology company’s stock after selling 4,049 shares during the quarter. Trilogy Capital Inc.’s holdings in QUALCOMM were worth $3,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in QUALCOMM in the fourth quarter worth $35,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QCOM shares. KeyCorp lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Mizuho upped their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Bank of America upped their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $4.03 during midday trading on Friday, reaching $199.18. The company had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm’s fifty day simple moving average is $195.82 and its 200-day simple moving average is $169.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

QUALCOMM 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.