Triglav Skladi D.O.O. Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Triglav Skladi D.O.O. has reduced its stake in QUALCOMM Incorporated by 11.9%, now holding 36,396 shares valued at approximately $5.59 million.
• Insider sales include CFO Akash J. Palkhiwala selling 3,333 shares, decreasing his position by 6.70%, while total insider sales in the last ninety days reached 424,099 shares, valued at over $8.35 million.
• Brokerage ratings for QUALCOMM vary, with Wall Street Zen downgrading the stock from "buy" to "hold" and an average target price set at $181.10, while the company recently reported $2.77 EPS for the quarter, exceeding expectations.

Triglav Skladi D.O.O. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,396 shares of the wireless technology company's stock after selling 4,933 shares during the quarter. Triglav Skladi D.O.O.'s holdings in QUALCOMM were worth $5,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,352,355. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on QCOM. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Benchmark dropped their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.73 on Wednesday. The firm has a market capitalization of $165.87 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.16 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The business's 50-day simple moving average is $155.20 and its 200-day simple moving average is $153.89.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's payout ratio is 34.33%.

About QUALCOMM

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.