Meyer Handelman Co. Sells 4,800 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Meyer Handelman Co. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,192 shares of the wireless technology company’s stock after selling 4,800 shares during the quarter. QUALCOMM accounts for approximately 1.6% of Meyer Handelman Co.’s investment portfolio, making the stock its 14th largest holding. Meyer Handelman Co.’s holdings in QUALCOMM were worth $46,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP purchased a new position in QUALCOMM in the second quarter valued at about $30,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM in the third quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.5 %

Shares of NASDAQ:QCOM opened at $159.53 on Wednesday. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The company has a market capitalization of $177.24 billion, a PE ratio of 17.75, a PEG ratio of 2.65 and a beta of 1.25. The business has a 50 day moving average of $159.38 and a two-hundred day moving average of $169.37. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

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.