Meyer Handelman Co. Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Meyer Handelman Co. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,192 shares of the wireless technology company's stock after selling 4,800 shares during the quarter. QUALCOMM makes up 1.6% of Meyer Handelman Co.'s holdings, making the stock its 14th biggest position. Meyer Handelman Co.'s holdings in QUALCOMM were worth $46,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HWG Holdings LP purchased a new position in shares of QUALCOMM in the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. Planning Capital Management Corp boosted its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares during the period. Hershey Financial Advisers LLC bought a new position in QUALCOMM in the 2nd quarter worth about $42,000. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM during the 3rd quarter valued at about $36,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 3.5 %

NASDAQ:QCOM traded up $5.57 during midday trading on Wednesday, reaching $165.10. 5,029,133 shares of the stock traded hands, compared to its average volume of 6,546,980. The stock has a market capitalization of $183.43 billion, a P/E ratio of 18.36, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a fifty day moving average of $159.38 and a 200 day moving average of $169.37.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They set a "hold" rating and a $180.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and an average target price of $207.11.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company's stock.

QUALCOMM 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.