Capital Asset Advisory Services Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Capital Asset Advisory Services reduced its stake in QUALCOMM by 2.36% during the most recent quarter end. The investment management company now holds a total of 16,557 shares of QUALCOMM which is valued at $907,820 after selling 401 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.QUALCOMM makes up approximately 1.19% of Capital Asset Advisory Services’s portfolio.

Other Hedge Funds, Including , Firstmerit Bank N A Trustee reduced its stake in QCOM by selling 3,186 shares or 12.1% in the most recent quarter. The Hedge Fund company now holds 23,137 shares of QCOM which is valued at $1,268,602. QUALCOMM makes up approx 0.10% of Firstmerit Bank N A Trustee’s portfolio.Dnb Asset Management As boosted its stake in QCOM in the latest quarter, The investment management firm added 7,100 additional shares and now holds a total of 771,490 shares of QUALCOMM which is valued at $41,807,043. QUALCOMM makes up approx 0.87% of Dnb Asset Management As’s portfolio.Patten Patten Inctn reduced its stake in QCOM by selling 415 shares or 5.68% in the most recent quarter. The Hedge Fund company now holds 6,887 shares of QCOM which is valued at $373,207. QUALCOMM makes up approx 0.05% of Patten Patten Inctn’s portfolio. Pensionfund Sabic added QCOM to its portfolio by purchasing 49,500 company shares during the most recent quarter which is valued at $2,571,030. QUALCOMM makes up approx 0.77% of Pensionfund Sabic’s portfolio.

QUALCOMM opened for trading at $54.91 and hit $55 on the upside on Wednesday, eventually ending the session at $54.83, with a gain of 0.38% or 0.21 points. The heightened volatility saw the trading volume jump to 56,76,402 shares. Company has a market cap of $80,541 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.

Many Wall Street Analysts have commented on QUALCOMM. QUALCOMM was Downgraded by Evercore ISI to ” Hold” on Jul 1, 2016. QUALCOMM was Downgraded by Bernstein to ” Mkt Perform” on Jun 30, 2016. QUALCOMM was Downgraded by Brean Capital to ” Hold” on Jun 9, 2016.

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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