Catawba Capital Management Va Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Catawba Capital Management Va reduced its stake in QUALCOMM by 15.8% during the most recent quarter end. The investment management company now holds a total of 15,949 shares of QUALCOMM which is valued at $1,087,562 after selling 2,993 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.QUALCOMM makes up approximately 0.26% of Catawba Capital Management Va’s portfolio.

Other Hedge Funds, Including , Oliver Luxxe Assets added QCOM to its portfolio by purchasing 10,271 company shares during the most recent quarter which is valued at $700,379. QUALCOMM makes up approx 0.55% of Oliver Luxxe Assets’s portfolio.Private Asset Management Inc reduced its stake in QCOM by selling 7,000 shares or 0.94% in the most recent quarter. The Hedge Fund company now holds 735,107 shares of QCOM which is valued at $49,134,552. QUALCOMM makes up approx 8.30% of Private Asset Management Inc’s portfolio.Telemus Capital reduced its stake in QCOM by selling 111 shares or 1.11% in the most recent quarter. The Hedge Fund company now holds 9,871 shares of QCOM which is valued at $659,778. QUALCOMM makes up approx 0.07% of Telemus Capital’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in QCOM by selling 837 shares or 11.43% in the most recent quarter. The Hedge Fund company now holds 6,486 shares of QCOM which is valued at $433,524. QUALCOMM makes up approx 0.08% of Franklin Street Advisors Inc Nc’s portfolio.Washington Trust Bank reduced its stake in QCOM by selling 1,542 shares or 3.18% in the most recent quarter. The Hedge Fund company now holds 46,973 shares of QCOM which is valued at $3,139,675. QUALCOMM makes up approx 0.75% of Washington Trust Bank’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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