Flossbach Von Storch Ag buys $241,554,703 stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Flossbach Von Storch Ag scooped up 192,058 additional shares in QUALCOMM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 4,743,808 shares of QUALCOMM which is valued at $241,554,703.QUALCOMM makes up approximately 4.00% of Flossbach Von Storch Ag’s portfolio.

QUALCOMM closed down -0.21 points or -0.41% at $50.92 with 94,34,472 shares getting traded on Friday. Post opening the session at $50.65, the shares hit an intraday low of $50.38 and an intraday high of $51.1218 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Kornitzer Capital Management Inc Ks boosted its stake in QCOM in the latest quarter, The investment management firm added 114,070 additional shares and now holds a total of 583,885 shares of QUALCOMM which is valued at $29,731,424. QUALCOMM makes up approx 0.53% of Kornitzer Capital Management Inc Ks’s portfolio.Tarbox Group boosted its stake in QCOM in the latest quarter, The investment management firm added 845 additional shares and now holds a total of 2,457 shares of QUALCOMM which is valued at $124,128. QUALCOMM makes up approx 0.09% of Tarbox Group’s portfolio.Curian Capital reduced its stake in QCOM by selling 337,788 shares or 89.45% in the most recent quarter. The Hedge Fund company now holds 39,841 shares of QCOM which is valued at $2,012,767. QUALCOMM makes up approx 0.15% of Curian Capital’s portfolio.Boston Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 31,466 additional shares and now holds a total of 292,586 shares of QUALCOMM which is valued at $15,401,727. QUALCOMM makes up approx 0.38% of Boston Advisors’s portfolio.Joel Isaacson boosted its stake in QCOM in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 2,116 shares of QUALCOMM which is valued at $111,386. QUALCOMM makes up approx 0.02% of Joel Isaacson’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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