Meyer Handelman Co. Has $61.79 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Meyer Handelman Co. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 310,201 shares of the wireless technology company’s stock after selling 1,270 shares during the period. QUALCOMM accounts for about 2.2% of Meyer Handelman Co.’s investment portfolio, making the stock its 9th biggest holding. Meyer Handelman Co.’s holdings in QUALCOMM were worth $61,786,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $32,000. Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares in the last quarter. Finally, Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,285 shares of company stock valued at $5,871,215. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 4.0 %

NASDAQ:QCOM traded up $6.58 during midday trading on Tuesday, hitting $169.47. The stock had a trading volume of 10,668,024 shares, compared to its average volume of 9,424,060. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market capitalization of $189.13 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.74 and a beta of 1.27. The stock has a 50-day moving average of $194.59 and a 200 day moving average of $179.09. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QCOM shares. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Bank of America upped their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Susquehanna upped their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.63.

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.