Meyer Handelman Co. Has $43.57 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Meyer Handelman Co. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,612 shares of the wireless technology company's stock after selling 18,580 shares during the quarter. QUALCOMM accounts for approximately 1.5% of Meyer Handelman Co.'s portfolio, making the stock its 16th largest holding. Meyer Handelman Co.'s holdings in QUALCOMM were worth $43,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth $29,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the 4th quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock worth $8,418,305 over the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Down 2.1%

QCOM traded down $3.12 during trading on Friday, reaching $145.22. 13,752,285 shares of the stock were exchanged, compared to its average volume of 8,785,850. The stock has a market cap of $159.45 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock's 50 day moving average price is $144.30 and its two-hundred day moving average price is $155.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 earnings per share. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is presently 36.25%.

QUALCOMM Company Profile

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.