QUALCOMM (QCOM) : North American Management Corp reduced its stake in QUALCOMM by 68.33% during the most recent quarter end. The investment management company now holds a total of 110,458 shares of QUALCOMM which is valued at $6,165,766 after selling 238,286 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.QUALCOMM makes up approximately 1.00% of North American Management Corp’s portfolio.
Other Hedge Funds, Including , Barrett Asset Management reduced its stake in QCOM by selling 400 shares or 12.6% in the most recent quarter. The Hedge Fund company now holds 2,774 shares of QCOM which is valued at $154,845. QUALCOMM makes up approx 0.01% of Barrett Asset Management’s portfolio.Neville Rodie Shaw Inc reduced its stake in QCOM by selling 950 shares or 20.2% in the most recent quarter. The Hedge Fund company now holds 3,754 shares of QCOM which is valued at $205,832. QUALCOMM makes up approx 0.02% of Neville Rodie Shaw Inc’s portfolio. Abner Herrman Brock added QCOM to its portfolio by purchasing 71,207 company shares during the most recent quarter which is valued at $3,904,280. QUALCOMM makes up approx 0.90% of Abner Herrman Brock’s portfolio.Kistler-tiffany Companies reduced its stake in QCOM by selling 60 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 6,551 shares of QCOM which is valued at $354,999. QUALCOMM makes up approx 0.18% of Kistler-tiffany Companies’s portfolio.
QUALCOMM opened for trading at $55.36 and hit $55.95 on the upside on Wednesday, eventually ending the session at $55.82, with a gain of 1.23% or 0.68 points. The heightened volatility saw the trading volume jump to 1,72,04,320 shares. Company has a market cap of $81,995 M.
On the company’s financial health, QUALCOMM reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.97. The company had revenue of $6000.00 million for the quarter, compared to analysts expectations of $5578.82 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.
Investors should note that on Jul 12, 2016, QUALCOMM announced a cash dividend of $0.5300. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 21, 2016.
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.