Arvest Bank Trust Division adds QUALCOMM (QCOM) to its portfolio

QUALCOMM (QCOM) : Arvest Bank Trust Division added new position in QUALCOMM during the most recent quarter end. The investment management firm now holds 227,427 shares of QUALCOMM which is valued at $15,508,247 , the company said in a statement filed on Oct 7, 2016 with the SEC.QUALCOMM makes up approximately 1.31% of Arvest Bank Trust Division’s portfolio.

Other Hedge Funds, Including , Capital Investment Services Of America reduced its stake in QCOM by selling 250 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 128,400 shares of QCOM which is valued at $8,755,596. QUALCOMM makes up approx 1.68% of Capital Investment Services Of America’s portfolio.First American Trust Fsb reduced its stake in QCOM by selling 1,820 shares or 2.81% in the most recent quarter. The Hedge Fund company now holds 62,921 shares of QCOM which is valued at $4,205,640. QUALCOMM makes up approx 1.32% of First American Trust Fsb’s portfolio.Stillwater Investment Management boosted its stake in QCOM in the latest quarter, The investment management firm added 124 additional shares and now holds a total of 15,002 shares of QUALCOMM which is valued at $1,002,734. QUALCOMM makes up approx 0.55% of Stillwater Investment Management’s portfolio.Independent Portfolio Consultants reduced its stake in QCOM by selling 1,630 shares or 8.65% in the most recent quarter. The Hedge Fund company now holds 17,221 shares of QCOM which is valued at $1,151,052. QUALCOMM makes up approx 0.36% of Independent Portfolio Consultants’s portfolio.

QUALCOMM opened for trading at $67.53 and hit $68.33 on the upside on Friday, eventually ending the session at $68.19, with a gain of 0.96% or 0.65 points. The heightened volatility saw the trading volume jump to 83,98,099 shares. Company has a market cap of $100,488 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.

Many Wall Street Analysts have commented on QUALCOMM. Company shares were Reiterated by RBC Capital Mkts on Oct 3, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $59 .Mizuho Upgraded QUALCOMM on Sep 30, 2016 to ” Buy”, Price Target of the shares are set at $75.Company shares were Reiterated by Cowen on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 74 from a previous price target of $62 .

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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