Franklin Resources Increases Stake in QUALCOMM Incorporated

Franklin Resources Inc. has increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% during the fourth quarter, as revealed in a recent filing with the Securities and Exchange Commission. Following this increase, the firm now owns 7,542,337 shares of the wireless technology company. This acquisition involved purchasing an additional 709,644 shares during the reporting period. At the end of the latest period, Franklin Resources Inc. held approximately 0.68% of QUALCOMM, which is valued at around $1,158,654,000.

Other significant investors have also been active with their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake worth about $26,000 during the fourth quarter. Moreover, CKW Financial Group invested nearly $27,000 in QUALCOMM shares, while Centricity Wealth Management LLC acquired a new position valued at one of approximately $29,000. CoreFirst Bank & Trust and Synergy Asset Management LLC also entered into new positions, valued at approximately $33,000 and $38,000, respectively. Currently, 74.35% of QUALCOMM's stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, there has been some insider activity at QUALCOMM. Alexander H. Rogers, an insider, sold 19,287 shares of the company on February 10th, at an average price of $169.83, totaling approximately $3,275,511. Following this sale, he retained 20,762 shares valued at around $3,526,010, which marked a 48.16% decrease in his ownership. This transaction has been reported in the SEC filing.

Additionally, CFO Akash J. Palkhiwala sold 3,000 shares on February 12th at an average price of $169.80, bringing in $509,400. After the sale, Palkhiwala's direct ownership stands at 63,115 shares, which are valued at about $10,716,927. This represents a 4.54% decrease in ownership. In total, insiders have sold 27,968 shares recently, amounting to $4,685,077 in value, with corporate insiders controlling around 0.08% of the company’s stock.

Current Stock Performance

On Monday, QUALCOMM shares opened at $152.72. The company's fifty-day moving average is $164.16, while its two-hundred-day moving average sits at $163.82. The current market capitalization is $168.91 billion. The stock has a PE ratio of 16.32 and a price-to-earnings-growth ratio of 2.01. QUALCOMM's stock saw a 52-week low of $149.43 and a high of $230.63, with a debt-to-equity ratio of 0.49. Additionally, the current ratio stands at 2.62, and the quick ratio is at 1.99.

QUALCOMM last reported its earnings on February 5th, with earnings per share of $2.86 for the quarter, which was below the consensus estimate of $2.93 by $0.07. The company achieved a return on equity of 39.51% and a net margin of 25.94%. Analysts forecast an average EPS of 9.39 for the current year.

Dividend Announcements

Recently, QUALCOMM announced a quarterly dividend of $0.85 per share, which was paid out on March 27th. The ex-dividend date was March 6th. This represents an annualized dividend of $3.40, leading to a dividend yield of 2.23%. The payout ratio currently stands at 36.32%.

Analyst Ratings and Future Outlook

Brokerages have also shared insights on QUALCOMM's stock. Cantor Fitzgerald maintained a "neutral" rating with a price target of $160.00. Meanwhile, Evercore ISI adjusted their target from $199.00 to $179.00 and also rated the company as "in-line." Benchmark reaffirmed a "buy" rating with a target of $240.00, while Piper Sandler decreased their target to $190.00 with an "overweight" rating. Analysts have given QUALCOMM one sell rating, fourteen hold ratings, fifteen buy ratings, and one strong buy rating, leading to an average rating of "Moderate Buy" and a consensus target price of $205.32.

About QUALCOMM

QUALCOMM Incorporated is engaged in developing and commercializing foundational wireless industry technologies globally. The company operates through several segments, including Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment focuses on creating and supplying integrated circuits and system software utilizing 3G, 4G, and 5G technologies for various wireless applications.

Franklin, QUALCOMM, Shares