QUALCOMM (QCOM) : Lodestar Investment Counselil reduced its stake in QUALCOMM by 10.06% during the most recent quarter end. The investment management company now holds a total of 117,046 shares of QUALCOMM which is valued at $6,161,301 after selling 13,089 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.QUALCOMM makes up approximately 0.87% of Lodestar Investment Counselil’s portfolio.
QUALCOMM closed down -0.01 points or -0.02% at $52.9 with 82,56,621 shares getting traded on Wednesday. Post opening the session at $52.03, the shares hit an intraday low of $52.01 and an intraday high of $53.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Lathrop Investment Management Corp reduced its stake in QCOM by selling 2,345 shares or 1.67% in the most recent quarter. The Hedge Fund company now holds 138,137 shares of QCOM which is valued at $7,271,532. QUALCOMM makes up approx 2.29% of Lathrop Investment Management Corp’s portfolio. Warren Averett Asset Management sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 5,378 shares of QCOM which is valued $283,098.Mitchell Mcleod Pugh Williams Inc boosted its stake in QCOM in the latest quarter, The investment management firm added 3,646 additional shares and now holds a total of 8,303 shares of QUALCOMM which is valued at $437,070. QUALCOMM makes up approx 0.34% of Mitchell Mcleod Pugh Williams Inc’s portfolio.Delta Capital Management boosted its stake in QCOM in the latest quarter, The investment management firm added 8,495 additional shares and now holds a total of 38,235 shares of QUALCOMM which is valued at $2,012,690. QUALCOMM makes up approx 1.38% of Delta Capital Management’s portfolio.Capital Investment Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 28,808 additional shares and now holds a total of 35,967 shares of QUALCOMM which is valued at $1,836,475. QUALCOMM makes up approx 0.18% of Capital Investment Advisors’s portfolio.
On the company’s financial health, QUALCOMM reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.96. The company had revenue of $5551.00 million for the quarter, compared to analysts expectations of $5334.52 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.40 EPS.
Many Wall Street Analysts have commented on QUALCOMM. Rosenblatt Downgraded QUALCOMM on Apr 21, 2016 to ” Neutral”, Price Target of the shares are set at $57.Company shares were Reiterated by Mizuho on Apr 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Shares were Downgraded by Barclays on Mar 28, 2016 to ” Equal Weight” and Lowered the Price Target to $ 50 from a previous price target of $55 .
Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G) fourth-generation (4G) and next-generation wireless technologies. The Company’s products include 2net AllPlay Brew Gobi Halo HealthyCircles Hy-Fi IPQ IZat Pixtronix Powerline QChat QLearn Small Cells Snapdragon Vive RaptorQ Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Company’s Brew platform enables feature phone applications such as gaming messaging Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G 4G and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points creating networks by plugging in.