QUALCOMM (QCOM) : Cadence Capital Management reduced its stake in QUALCOMM by 7.12% during the most recent quarter end. The investment management company now holds a total of 208,467 shares of QUALCOMM which is valued at $12,718,572 after selling 15,976 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.QUALCOMM makes up approximately 0.93% of Cadence Capital Management’s portfolio.
Other Hedge Funds, Including , Ballentine Partners reduced its stake in QCOM by selling 58 shares or 0.97% in the most recent quarter. The Hedge Fund company now holds 5,945 shares of QCOM which is valued at $362,704. QUALCOMM makes up approx 0.03% of Ballentine Partners’s portfolio.North Star Asset Management Inc reduced its stake in QCOM by selling 2,777 shares or 2.42% in the most recent quarter. The Hedge Fund company now holds 112,094 shares of QCOM which is valued at $7,014,843. QUALCOMM makes up approx 0.79% of North Star Asset Management Inc’s portfolio.Hexavest reduced its stake in QCOM by selling 24,658 shares or 2.39% in the most recent quarter. The Hedge Fund company now holds 1,006,542 shares of QCOM which is valued at $55,712,100. QUALCOMM makes up approx 0.83% of Hexavest’s portfolio. Mazama Capital Management Inc added QCOM to its portfolio by purchasing 21,756 company shares during the most recent quarter which is valued at $1,178,958. QUALCOMM makes up approx 0.23% of Mazama Capital Management Inc’s portfolio.Raymond James Trust N.a. boosted its stake in QCOM in the latest quarter, The investment management firm added 8,845 additional shares and now holds a total of 103,225 shares of QUALCOMM which is valued at $5,593,763. QUALCOMM makes up approx 0.47% of Raymond James Trust N.a.’s portfolio.
QUALCOMM closed down -0.42 points or -0.68% at $61.58 with 84,10,629 shares getting traded on Monday. Post opening the session at $62.05, the shares hit an intraday low of $61.37 and an intraday high of $62.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, QUALCOMM reported $1.16 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 Standpoint Research to ” Hold” on Jul 25, 2016. Company shares were Reiterated by Mizuho on Jul 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 56 from a previous price target of $50 .Company shares were Reiterated by Cowen on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .
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.