Trilogy Capital Inc. Cuts Holdings in QUALCOMM, Inc. (QCOM)

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Trilogy Capital Inc. cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,471 shares of the wireless technology company’s stock after selling 913 shares during the period. Trilogy Capital Inc.’s holdings in QUALCOMM were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Bank of New York Mellon Corp lifted its position in QUALCOMM by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock valued at $1,170,308,000 after purchasing an additional 2,463,511 shares during the period. Millennium Management LLC lifted its position in QUALCOMM by 121.1% during the 2nd quarter. Millennium Management LLC now owns 3,254,918 shares of the wireless technology company’s stock valued at $182,666,000 after purchasing an additional 1,782,585 shares during the period. Putnam Investments LLC lifted its position in QUALCOMM by 128.4% during the 2nd quarter. Putnam Investments LLC now owns 2,506,811 shares of the wireless technology company’s stock valued at $140,682,000 after purchasing an additional 1,409,034 shares during the period. Waddell & Reed Financial Inc. lifted its position in QUALCOMM by 18.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 5,029,933 shares of the wireless technology company’s stock valued at $282,280,000 after purchasing an additional 794,924 shares during the period. Finally, Macquarie Group Ltd. lifted its position in QUALCOMM by 340.5% during the 2nd quarter. Macquarie Group Ltd. now owns 829,503 shares of the wireless technology company’s stock valued at $46,551,000 after purchasing an additional 641,192 shares during the period. Institutional investors own 76.93% of the company’s stock.

In related news, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the sale, the president now directly owns 58,045 shares of the company’s stock, valued at approximately $3,994,076.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 853 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $63.50, for a total value of $54,165.50. Following the sale, the executive vice president now directly owns 4,344 shares of the company’s stock, valued at $275,844. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,638 shares of company stock valued at $6,302,079. 0.24% of the stock is owned by company insiders.

Shares of NASDAQ:QCOM opened at $63.33 on Monday. The company has a market capitalization of $93.04 billion, a P/E ratio of 16.75, a PEG ratio of 1.97 and a beta of 1.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM announced that its board has initiated a share repurchase program on Thursday, July 26th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the wireless technology company to repurchase up to 34.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a yield of 3.92%. QUALCOMM’s payout ratio is 65.61%.

A number of research analysts have issued reports on the stock. Bank of America downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Wednesday, October 31st. BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Tigress Financial restated a “buy” rating on shares of QUALCOMM in a research report on Friday, September 28th. Stifel Nicolaus upped their target price on shares of QUALCOMM from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Thursday, September 27th. Finally, Canaccord Genuity cut their target price on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.87.

QUALCOMM Company Profile

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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