Franklin Resources Inc. Has $1.16 Billion Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Franklin Resources Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.4% in the 4th quarter, according to its most recent 13F filing 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 quarter. Franklin Resources Inc. owned about 0.68% of QUALCOMM worth $1,158,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. State Street Corp grew its holdings in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth $2,721,882,000. Finally, Amundi lifted its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several brokerages have issued reports on QCOM. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. 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 issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $15.11 during trading on Thursday, reaching $138.97. The company's stock had a trading volume of 6,115,138 shares, compared to its average volume of 8,586,039. The firm has a 50 day moving average price of $163.33 and a 200 day moving average price of $163.57. QUALCOMM Incorporated has a 12 month low of $138.88 and a 12 month high of $230.63. The firm has a market capitalization of $153.70 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.45%. QUALCOMM's dividend payout ratio is 36.32%.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

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.