Summit Financial Wealth Advisors Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Summit Financial Wealth Advisors reduced its stake in QUALCOMM by 3.49% during the most recent quarter end. The investment management company now holds a total of 125,266 shares of QUALCOMM which is valued at $6,788,165 after selling 4,529 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.QUALCOMM makes up approximately 2.81% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , 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 $2,158,984. QUALCOMM makes up approx 0.15% of Curian Capital’s portfolio.Stock Yards Bank Trust Co boosted its stake in QCOM in the latest quarter, The investment management firm added 21,239 additional shares and now holds a total of 29,427 shares of QUALCOMM which is valued at $1,528,438. QUALCOMM makes up approx 0.20% of Stock Yards Bank Trust Co’s portfolio.Integrated Investment Consultants boosted its stake in QCOM in the latest quarter, The investment management firm added 4,814 additional shares and now holds a total of 17,716 shares of QUALCOMM which is valued at $920,169. QUALCOMM makes up approx 0.48% of Integrated Investment Consultants’s portfolio. New England Research Management sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 8,875 shares of QCOM which is valued $460,968.Cullinan Associates Inc boosted its stake in QCOM in the latest quarter, The investment management firm added 2,300 additional shares and now holds a total of 38,050 shares of QUALCOMM which is valued at $2,016,650. QUALCOMM makes up approx 0.16% of Cullinan Associates Inc’s portfolio.

QUALCOMM closed down -0.075 points or -0.14% at $54.115 with 69,41,561 shares getting traded on Monday. Post opening the session at $53.96, the shares hit an intraday low of $53.94 and an intraday high of $54.71 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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