Quality Growth Management Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Quality Growth Management reduced its stake in QUALCOMM by 1.52% during the most recent quarter end. The investment management company now holds a total of 433,370 shares of QUALCOMM which is valued at $22,127,872 after selling 6,707 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.QUALCOMM makes up approximately 24.59% of Quality Growth Management’s portfolio.

QUALCOMM closed down -0.42 points or -0.81% at $51.67 with 1,67,28,621 shares getting traded on Wednesday. Post opening the session at $51.3, the shares hit an intraday low of $50.74 and an intraday high of $51.8 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Gemmer Asset Management boosted its stake in QCOM in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 1,346 shares of QUALCOMM which is valued at $68,727. QUALCOMM makes up approx 0.04% of Gemmer Asset Management’s portfolio.Manning Napier Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 2,735,044 additional shares and now holds a total of 9,416,741 shares of QUALCOMM which is valued at $480,818,795. QUALCOMM makes up approx 2.99% of Manning Napier Advisors’s portfolio.Heritage Investors Management Corp boosted its stake in QCOM in the latest quarter, The investment management firm added 161 additional shares and now holds a total of 74,475 shares of QUALCOMM which is valued at $3,802,694. QUALCOMM makes up approx 0.29% of Heritage Investors Management Corp’s portfolio.Guinness Asset Management Ltd boosted its stake in QCOM in the latest quarter, The investment management firm added 4,400 additional shares and now holds a total of 59,230 shares of QUALCOMM which is valued at $3,024,284. QUALCOMM makes up approx 0.90% of Guinness Asset Management Ltd’s portfolio.Webster Bank N. A. boosted its stake in QCOM in the latest quarter, The investment management firm added 175 additional shares and now holds a total of 37,154 shares of QUALCOMM which is valued at $1,897,083. QUALCOMM makes up approx 0.29% of Webster Bank N. A.’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.

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