Penn Davis Mcfarland Inc Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Penn Davis Mcfarland Inc reduced its stake in QUALCOMM by 3.45% during the most recent quarter end. The investment management company now holds a total of 569,235 shares of QUALCOMM which is valued at $31,507,157 after selling 20,346 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.QUALCOMM makes up approximately 8.29% of Penn Davis Mcfarland Inc’s portfolio.

Other Hedge Funds, Including , Sumitomo Life Insurance Co reduced its stake in QCOM by selling 1,908 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 54,210 shares of QCOM which is valued at $3,000,524. QUALCOMM makes up approx 0.40% of Sumitomo Life Insurance Co’s portfolio.Johanson Financial Advisors boosted its stake in QCOM in the latest quarter, The investment management firm added 53 additional shares and now holds a total of 5,703 shares of QUALCOMM which is valued at $315,661. QUALCOMM makes up approx 0.36% of Johanson Financial Advisors’s portfolio.Douglass Winthrop Advisors reduced its stake in QCOM by selling 10,397 shares or 61.09% in the most recent quarter. The Hedge Fund company now holds 6,623 shares of QCOM which is valued at $363,139. QUALCOMM makes up approx 0.03% of Douglass Winthrop Advisors’s portfolio.Benjamin F. Edwards Company reduced its stake in QCOM by selling 1,154 shares or 7.83% in the most recent quarter. The Hedge Fund company now holds 13,590 shares of QCOM which is valued at $745,140. QUALCOMM makes up approx 0.14% of Benjamin F. Edwards Company’s portfolio.Cohen Lawrence B reduced its stake in QCOM by selling 18,316 shares or 44.76% in the most recent quarter. The Hedge Fund company now holds 22,600 shares of QCOM which is valued at $1,224,694. QUALCOMM makes up approx 0.72% of Cohen Lawrence B’s portfolio.

QUALCOMM opened for trading at $55.14 and hit $55.65 on the upside on Monday, eventually ending the session at $55.35, with a gain of 1.10% or 0.6 points. The heightened volatility saw the trading volume jump to 92,25,899 shares. Company has a market cap of $81,304 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 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.

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