Meyer Handelman Co. Sells 8,808 Shares of Qualcomm Incorporated $QCOM

Key Points

• Meyer Handelman Co. reduced its Qualcomm stake by 3.4% in the first quarter, selling 8,808 shares and ending with 252,744 shares worth about $32.5 million.
• Qualcomm recently posted better-than-expected quarterly earnings, with EPS of $2.65 versus estimates of $2.56, and revenue of $10.6 billion, while also raising its quarterly dividend to $0.92 from $0.89.
• The company is drawing attention for its aggressive AI and data center expansion, including a raised 2029 non-handset revenue target of $40 billion, a data center target above $15 billion, and a multi-generation CPU deal with Meta.

Meyer Handelman Co. lessened its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,744 shares of the wireless technology company's stock after selling 8,808 shares during the quarter. Meyer Handelman Co.'s holdings in Qualcomm were worth $32,548,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Richardson Financial Services Inc. lifted its position in Qualcomm by 90.9% in the 4th quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company's stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Qualcomm in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock worth $29,000 after purchasing an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new position in shares of Qualcomm during the fourth quarter valued at approximately $31,000. Finally, Glass Jacobson Investment Advisors llc boosted its position in shares of Qualcomm by 113.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company's stock valued at $32,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Qualcomm Price Performance

Shares of NASDAQ:QCOM opened at $204.90 on Friday. The company has a market capitalization of $215.96 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 24.50 and a beta of 1.59. The company's 50-day moving average is $199.96 and its 200 day moving average is $167.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.61 and a current ratio of 2.37. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities research analysts forecast that Qualcomm Incorporated will post 7.98 earnings per share for the current year.

Qualcomm Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were paid a $0.92 dividend. The ex-dividend date was Thursday, June 4th. This is a positive change from Qualcomm's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 1.8%. Qualcomm's dividend payout ratio (DPR) is currently 40.00%.

Qualcomm announced that its board has approved a stock buyback plan on Tuesday, March 17th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Raymond James Financial started coverage on Qualcomm in a research note on Thursday. They set a "strong-buy" rating on the stock. Benchmark reissued a "buy" rating on shares of Qualcomm in a research report on Thursday. Royal Bank Of Canada boosted their price target on shares of Qualcomm from $175.00 to $250.00 and gave the stock a "sector perform" rating in a report on Thursday. DZ Bank downgraded shares of Qualcomm from a "buy" rating to a "hold" rating and set a $195.00 price objective for the company. in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their target price on shares of Qualcomm from $230.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $213.03.

Insider Transactions at Qualcomm

In other Qualcomm news, CAO Patricia Y. Grech sold 829 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total value of $167,267.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano R. Amon sold 10,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $180.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer directly owned 197,568 shares in the company, valued at $35,562,240. This represents a 4.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,806 shares of company stock worth $3,928,958 in the last ninety days. Company insiders own 0.05% of the company's stock.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm lifted its fiscal 2029 non-handset revenue target to $40 billion, roughly double its prior goal, signaling a much bigger opportunity outside mobile chips. Qualcomm Accelerates Diversification with Comprehensive Strategy for Data Center and Sees Multiple Inflection Points Over the Next 3 to 5 Years
• Positive Sentiment: The company set a new data center revenue target of more than $15 billion by fiscal 2029, which investors see as a major AI-driven growth catalyst. Qualcomm Unveils Comprehensive Data Center Roadmap for the Agentic AI Era with New Qualcomm Dragonfly Portfolio
• Positive Sentiment: Qualcomm announced a multi-generation data center CPU agreement with Meta, giving the chipmaker a marquee customer and validating its push into AI infrastructure. Qualcomm and Meta Announce Strategic Multi-Generation Agreement on Data Center CPUs
• Positive Sentiment: Qualcomm also expanded its relationship with Hugging Face and said it will buy AI software firm Modular, moves that should strengthen its software stack and make its AI platform more competitive. Qualcomm and Hugging Face Expand Relationship to Advance Open, Developer-Driven AI from Device to Cloud
• Neutral Sentiment: Analysts broadly turned more constructive, with multiple price-target hikes and a few saying they were too skeptical of Qualcomm’s AI pivot; however, some caution remains about execution in a highly competitive market. QCOM stock jumps as Wall Street embraces Qualcomm's AI data center pivot — Morgan Stanley says it was 'wrong to be skeptical'

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

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