QUALCOMM (QCOM) : Concourse Capital Management added new position in QUALCOMM during the most recent quarter end. The investment management firm now holds 96,192 shares of QUALCOMM which is valued at $4.9 Million , the company said in a statement filed on May 12, 2016 with the SEC.QUALCOMM makes up approximately 3.17% of Concourse Capital Management’s portfolio.
Other Hedge Funds, Including , Mackenzie Financial Corp reduced its stake in QCOM by selling 52,402 shares or 13.31% in the most recent quarter. The Hedge Fund company now holds 341,261 shares of QCOM which is valued at $17.5 Million. QUALCOMM makes up approx 0.16% of Mackenzie Financial Corp’s portfolio. Leonard Capital Management Inc sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 68,000 shares of QCOM which is valued $3.5 Million.Schwab Charles Investment Management Inc boosted its stake in QCOM in the latest quarter, The investment management firm added 373,941 additional shares and now holds a total of 5,656,452 shares of QUALCOMM which is valued at $288 Million. QUALCOMM makes up approx 0.38% of Schwab Charles Investment Management Inc’s portfolio.Deprince Race Zollo Inc reduced its stake in QCOM by selling 184,421 shares or 19.28% in the most recent quarter. The Hedge Fund company now holds 772,102 shares of QCOM which is valued at $39.3 Million. QUALCOMM makes up approx 0.77% of Deprince Race Zollo Inc’s portfolio.Iab Financial Bank boosted its stake in QCOM in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 22,650 shares of QUALCOMM which is valued at $1.1 Million. QUALCOMM makes up approx 0.77% of Iab Financial Bank’s portfolio.
QUALCOMM opened for trading at $52.97 and hit $54.58 on the upside on Friday, eventually ending the session at $54.52, with a gain of 3.34% or 1.76 points. The heightened volatility saw the trading volume jump to 1,40,03,633 shares. Company has a market cap of $80,085 M.
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.
Investors should note that on Apr 8, 2016, QUALCOMM announced a cash dividend of $0.5300. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 22, 2016.
Many Wall Street Analysts have commented on QUALCOMM. Credit Agricole Initiated QUALCOMM on May 17, 2016 to “Outperform”, Price Target of the shares are set at $65.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 .
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.