Franklin Resources Inc. Acquires 110,828 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Franklin Resources Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,832,693 shares of the wireless technology company's stock after purchasing an additional 110,828 shares during the period. Franklin Resources Inc. owned about 0.62% of QUALCOMM worth $1,213,023,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in QCOM. State Street Corp grew its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC grew its position in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Legal & General Group Plc increased its holdings in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company's stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,540 shares of company stock valued at $6,300,999 over the last 90 days. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. TD Cowen raised QUALCOMM to a "strong-buy" rating in a report on Monday, September 16th. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a "hold" rating and a $180.00 price target for the company. Finally, Melius began coverage on QUALCOMM in a report on Monday. They set a "hold" rating and a $180.00 price objective on the stock. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.00.

QUALCOMM Trading Up 0.2 %

Shares of QCOM traded up $0.29 during trading hours on Friday, reaching $158.53. The stock had a trading volume of 8,439,503 shares, compared to its average volume of 8,957,640. The company has a market cap of $176.13 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.68 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $134.94 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $165.18 and a 200 day moving average of $178.37.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

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.