Private Asset Management Inc Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Private Asset Management Inc reduced its stake in QUALCOMM by 1.54% during the most recent quarter end. The investment management company now holds a total of 729,661 shares of QUALCOMM which is valued at $37.2 Million after selling 11,424 shares in QUALCOMM according to a report filed by the company on Apr 5, 2016 with the SEC.QUALCOMM makes up approximately 6.79% of Private Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Weaver C. Barksdale Associates reduced its stake in QCOM by selling 37 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 12,076 shares of QCOM which is valued at $615,876. QUALCOMM makes up approx 0.46% of Weaver C. Barksdale Associates’s portfolio.

On the company’s financial health, QUALCOMM reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $0.91. The company had revenue of $5775.00 million for the quarter, compared to analysts expectations of $5714.38 million. The company’s revenue was down -18.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.34 EPS.

Many Wall Street Analysts have commented on QUALCOMM. 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 was Upgraded by Bernstein to ” Outperform” on Feb 16, 2016.

QUALCOMM opened for trading at $50.86 and hit $51.575 on the upside on Monday, eventually ending the session at $51, with a gain of 0.87% or 0.44 points. The heightened volatility saw the trading volume jump to 86,37,157 shares. Company has a market cap of $76,239 M.

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.

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