QUALCOMM, Inc. (QCOM) Shares Sold by HL Financial Services LLC

HL Financial Services LLC decreased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,574 shares of the wireless technology company’s stock after selling 5,617 shares during the period. HL Financial Services LLC’s holdings in QUALCOMM were worth $2,274,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in QUALCOMM by 9,686.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock worth $105,000 after buying an additional 73,523 shares during the period. Squar Milner Financial Services LLC purchased a new stake in QUALCOMM during the second quarter worth approximately $106,000. Kiley Juergens Wealth Management LLC grew its stake in QUALCOMM by 1,760.0% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after buying an additional 1,760 shares during the period. MinichMacGregor Wealth Management LLC grew its stake in QUALCOMM by 170.9% during the third quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock worth $134,000 after buying an additional 1,167 shares during the period. Finally, Enterprise Financial Services Corp grew its stake in QUALCOMM by 151.8% during the third quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock worth $143,000 after buying an additional 1,201 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

QCOM has been the subject of several research reports. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Cowen upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $64.00 to $80.00 in a research note on Monday, August 6th. Nomura boosted their price objective on shares of QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Royal Bank of Canada boosted their price objective on shares of QUALCOMM to $77.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. Finally, Rosenblatt Securities upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $70.00 in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $70.86.

Shares of QCOM stock opened at $56.72 on Friday. The firm has a market capitalization of $93.48 billion, a PE ratio of 17.78, a PEG ratio of 1.98 and a beta of 1.69. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $76.50.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.20. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.54 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, research analysts predict that QUALCOMM, Inc. will post 2.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 annualized dividend and a dividend yield of 4.37%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

QUALCOMM declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 26th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, EVP Alexander H. Rogers sold 854 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total value of $61,641.72. Following the completion of the transaction, the executive vice president now directly owns 5,197 shares in the company, valued at $375,119.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 853 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the transaction, the executive vice president now owns 4,344 shares of the company’s stock, valued at $275,844. The disclosure for this sale can be found here. Insiders sold 91,638 shares of company stock valued at $6,302,079 over the last 90 days. Insiders own 0.17% of the company’s stock.

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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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