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

Franklin Resources Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,542,337 shares of the wireless technology company’s stock after purchasing an additional 709,644 shares during the quarter. Franklin Resources Inc.’s holdings in QUALCOMM were worth $1,158,654,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 3.3 %

NASDAQ:QCOM opened at $152.72 on Monday. 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 quick ratio of 1.99 and a current ratio of 2.62. The firm’s fifty day moving average is $164.16 and its 200-day moving average is $163.82. The firm has a market cap of $168.91 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) 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 the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.23%. QUALCOMM’s payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last ninety days. 0.08% of the stock is owned by company insiders.

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.