Franklin Resources Inc. Has $95.65 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Franklin Resources Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 13.4% during the second quarter, HoldingsChannel.com reports. The firm owned 748,820 shares of the wireless technology company’s stock after acquiring an additional 88,576 shares during the quarter. Franklin Resources Inc.’s holdings in QUALCOMM were worth $95,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of QUALCOMM by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company’s stock worth $16,136,689,000 after purchasing an additional 1,570,961 shares in the last quarter. BlackRock Inc. grew its position in shares of QUALCOMM by 0.8% during the 1st quarter. BlackRock Inc. now owns 82,022,847 shares of the wireless technology company’s stock worth $12,534,730,000 after purchasing an additional 643,310 shares in the last quarter. Capital International Investors grew its position in shares of QUALCOMM by 33.4% during the 1st quarter. Capital International Investors now owns 9,128,186 shares of the wireless technology company’s stock worth $1,394,965,000 after purchasing an additional 2,284,970 shares in the last quarter. Cowa LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $94,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of QUALCOMM by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,540,493 shares of the wireless technology company’s stock worth $846,699,000 after acquiring an additional 175,098 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of QUALCOMM from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. HSBC assumed coverage on shares of QUALCOMM in a research report on Monday, October 24th. They set a “buy” rating and a $180.00 price target on the stock. Barclays reduced their price target on shares of QUALCOMM from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, October 24th. Canaccord Genuity Group reduced their price target on shares of QUALCOMM from $225.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, DZ Bank downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research note on Friday, July 29th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

QUALCOMM Stock Up 1.2 %

QCOM opened at $125.15 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.75 and a quick ratio of 1.21. The company’s 50-day moving average is $117.88 and its 200 day moving average is $130.43. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $193.58. The firm has a market capitalization of $140.29 billion, a P/E ratio of 11.00, a PEG ratio of 0.89 and a beta of 1.24.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, November 30th. QUALCOMM’s payout ratio is currently 26.36%.

Insider Activity at QUALCOMM

In related news, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 5,591 shares of QUALCOMM stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $114.99, for a total value of $642,909.09. Following the sale, the insider now owns 44,572 shares of the company’s stock, valued at $5,125,334.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 2,894 shares of QUALCOMM stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $121.10, for a total transaction of $350,463.40. The disclosure for this sale can be found here. Insiders have sold 10,569 shares of company stock valued at $1,257,019 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

About QUALCOMM

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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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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