Eaton Vance Management cut its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 9.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,075,459 shares of the wireless technology company’s stock after selling 205,762 shares during the period. Eaton Vance Management owned 0.14% of Qualcomm worth $111,182,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sterling Global Strategies LLC boosted its position in shares of Qualcomm by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 3,951 shares of the wireless technology company’s stock valued at $211,000 after buying an additional 17 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Qualcomm by 0.5% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,896 shares of the wireless technology company’s stock valued at $262,000 after buying an additional 25 shares in the last quarter. FCA Corp TX boosted its position in shares of Qualcomm by 1.0% in the second quarter. FCA Corp TX now owns 4,698 shares of the wireless technology company’s stock valued at $252,000 after buying an additional 46 shares in the last quarter. Mogy Joel R Investment Counsel Inc. boosted its position in shares of Qualcomm by 1.1% in the second quarter. Mogy Joel R Investment Counsel Inc. now owns 4,570 shares of the wireless technology company’s stock valued at $245,000 after buying an additional 50 shares in the last quarter. Finally, Johanson Financial Advisors Inc. boosted its position in shares of Qualcomm by 0.9% in the second quarter. Johanson Financial Advisors Inc. now owns 5,703 shares of the wireless technology company’s stock valued at $304,000 after buying an additional 53 shares in the last quarter. 78.08% of the stock is owned by institutional investors and hedge funds.

Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.33% during midday trading on Tuesday, hitting $62.65. The stock had a trading volume of 1,805,252 shares. The stock has a 50-day moving average of $62.28 and a 200 day moving average of $55.57. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $63.70. The stock has a market cap of $92.32 billion, a PE ratio of 18.35 and a beta of 1.22.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The company earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. Analysts anticipate that Qualcomm Inc. will post $4.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, August 29th. Qualcomm’s payout ratio is 62.17%.

Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Qualcomm in a report on Tuesday. Goldman Sachs Group Inc. assumed coverage on Qualcomm in a report on Thursday, July 21st. They set a “conviction-buy” rating and a $70.00 price objective for the company. Cowen and Company reaffirmed a “buy” rating and set a $60.00 price objective on shares of Qualcomm in a report on Tuesday, May 24th. BMO Capital Markets cut Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Thursday, July 14th. Finally, Standpoint Research cut Qualcomm from a “buy” rating to a “hold” rating in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $62.02.

In related news, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew S. Grob sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Qualcomm Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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