QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,542,337 shares of the wireless technology company’s stock after buying an additional 709,644 shares during the period. Franklin Resources Inc. owned approximately 0.68% of QUALCOMM worth $1,158,654,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 3.3 %

Shares of QUALCOMM stock opened at $152.72 on Monday. The company’s fifty day moving average price is $164.16 and its two-hundred day moving average price is $163.82. The firm has a market capitalization of $168.91 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.