Franklin Resources Inc. Sells 2,569,660 Shares of QUALCOMM Incorporated $QCOM

Franklin Resources Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,558,972 shares of the wireless technology company’s stock after selling 2,569,660 shares during the quarter. Franklin Resources Inc.’s holdings in QUALCOMM were worth $1,044,574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC boosted its stake in QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the period. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. bought a new stake in shares of QUALCOMM in the second quarter valued at about $32,000. Winnow Wealth LLC acquired a new position in shares of QUALCOMM during the second quarter worth about $32,000. Finally, Atticus Wealth Management LLC boosted its position in shares of QUALCOMM by 21,200.0% during the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after buying an additional 212 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Piper Sandler raised their price target on shares of QUALCOMM from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. TD Cowen lifted their price objective on shares of QUALCOMM from $185.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, Mizuho raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.38.

QUALCOMM Trading Down 3.9%

Shares of QUALCOMM stock opened at $159.59 on Friday. The stock has a market cap of $170.92 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.59 and a beta of 1.26. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95. The business’s 50 day moving average is $169.31 and its 200-day moving average is $159.52.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 5th. The wireless technology company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $10.74 billion. During the same period last year, the business earned $2.69 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. QUALCOMM has set its Q1 2026 guidance at 3.300-3.500 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is 72.80%.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the transaction, the chief executive officer owned 149,304 shares of the company’s stock, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the sale, the chief financial officer owned 36,541 shares in the company, valued at $6,067,998.46. This represents a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 167,514 shares of company stock worth $27,735,930. Company 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.