Meyer Handelman Co. Sells 13,473 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Meyer Handelman Co. has reduced its holdings in QUALCOMM (QCOM) by 4.8%, owning 270,139 shares after selling 13,473 shares, valuing its stake at approximately $43 million.
• Insider selling activity includes transactions from Heather S. Ace and CFO Akash J. Palkhiwala, with their sales reflecting a decrease in ownership of 7.02% and 7.71%, respectively.
• QUALCOMM's quarterly earnings report showed an EPS of $2.77, exceeding analyst expectations, and the company recently declared a quarterly dividend of $0.89 per share, yielding 2.1% annually.

Meyer Handelman Co. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,139 shares of the wireless technology company's stock after selling 13,473 shares during the period. QUALCOMM accounts for about 1.4% of Meyer Handelman Co.'s portfolio, making the stock its 18th biggest position. Meyer Handelman Co.'s holdings in QUALCOMM were worth $43,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 93 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth approximately $27,000. Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $31,000. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total value of $522,814.38. Following the sale, the chief financial officer directly owned 39,874 shares of the company's stock, valued at $6,254,635.64. The trade was a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,100 shares of company stock valued at $2,026,291. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Arete Research set a $200.00 price target on QUALCOMM in a report on Tuesday, August 26th. Bank of America cut their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Piper Sandler cut their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Mizuho lowered their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $169.68 on Friday. The company has a market cap of $183.08 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.21. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The business has a 50 day moving average price of $158.38 and a 200-day moving average price of $152.76. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.QUALCOMM's revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $2.33 earnings per share. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 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.