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

Meyer Handelman Co. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,992 shares of the wireless technology company’s stock after selling 3,209 shares during the period. QUALCOMM comprises approximately 1.8% of Meyer Handelman Co.’s investment portfolio, making the stock its 13th largest holding. Meyer Handelman Co.’s holdings in QUALCOMM were worth $52,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QCOM. First Affirmative Financial Network boosted its position in QUALCOMM by 35.8% in the third quarter. First Affirmative Financial Network now owns 2,861 shares of the wireless technology company’s stock worth $486,000 after purchasing an additional 754 shares during the last quarter. Wynn Capital LLC boosted its holdings in shares of QUALCOMM by 4.1% in the 3rd quarter. Wynn Capital LLC now owns 9,535 shares of the wireless technology company’s stock worth $1,621,000 after buying an additional 375 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in QUALCOMM by 34.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 88,011 shares of the wireless technology company’s stock valued at $14,963,000 after buying an additional 22,434 shares during the period. Maj Invest Holding A S purchased a new stake in QUALCOMM during the third quarter worth about $229,078,000. Finally, Fermata Advisors LLC raised its position in QUALCOMM by 21.6% in the third quarter. Fermata Advisors LLC now owns 1,583 shares of the wireless technology company’s stock worth $269,000 after acquiring an additional 281 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on QCOM. Barclays upped their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Tigress Financial increased their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Susquehanna boosted their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $169.98 on Friday. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm’s fifty day moving average price is $167.85 and its 200-day moving average price is $181.98. The stock has a market cap of $189.70 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

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.