Franklin Resources Inc. Has $1.21 Billion Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Aljian Capital Management LLC bought a new position in QUALCOMM during the 3rd quarter worth $1,820,000. Finally, Captrust Financial Advisors raised its position in QUALCOMM by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after purchasing an additional 29,287 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $158.24 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $175.80 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.68 and a beta of 1.25. The stock has a 50 day moving average of $165.18 and a 200 day moving average of $178.37. QUALCOMM Incorporated has a 12 month low of $134.94 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,540 shares of company stock worth $6,300,999. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Company 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.