HGK Asset Management Inc. Trims Position in QUALCOMM, Inc. (NASDAQ:QCOM)

HGK Asset Management Inc. lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 31.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the wireless technology company’s stock after selling 3,433 shares during the period. HGK Asset Management Inc.’s holdings in QUALCOMM were worth $542,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Farmers Trust Co. boosted its stake in QUALCOMM by 3.1% in the 3rd quarter. Farmers Trust Co. now owns 4,382 shares of the wireless technology company’s stock worth $335,000 after purchasing an additional 132 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of QUALCOMM by 5.2% during the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock valued at $214,000 after acquiring an additional 139 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in shares of QUALCOMM by 3.9% during the 3rd quarter. 180 Wealth Advisors LLC now owns 3,744 shares of the wireless technology company’s stock valued at $287,000 after acquiring an additional 141 shares during the last quarter. Enterprise Financial Services Corp lifted its position in QUALCOMM by 9.9% in the second quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock valued at $121,000 after buying an additional 143 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in QUALCOMM by 8.6% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,862 shares of the wireless technology company’s stock valued at $142,000 after buying an additional 147 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors.

Shares of NASDAQ QCOM opened at $78.99 on Friday. The company has a market cap of $93.90 billion, a PE ratio of 24.76, a P/E/G ratio of 1.84 and a beta of 1.59. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61. The stock has a fifty day moving average price of $77.36 and a 200 day moving average price of $75.00.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Analysts anticipate that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In related news, EVP Michelle M. Sterling sold 10,398 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $779,953.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at $97,518.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,985 shares of company stock worth $892,245 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on QCOM shares. DZ Bank restated a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. Bank of America cut their target price on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Mizuho set a $68.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a research note on Monday, August 26th. Finally, Deutsche Bank cut their target price on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating on the stock in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $79.68.

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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