Hanlon Investment Management buys $5,991,792 stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Hanlon Investment Management scooped up 17,524 additional shares in QUALCOMM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 98,210 shares of QUALCOMM which is valued at $5,991,792.QUALCOMM makes up approximately 0.51% of Hanlon Investment Management’s portfolio.

Other Hedge Funds, Including , State Of New Jersey Common Pension Fund D reduced its stake in QCOM by selling 95,000 shares or 5.12% in the most recent quarter. The Hedge Fund company now holds 1,760,000 shares of QCOM which is valued at $107,377,600. QUALCOMM makes up approx 0.47% of State Of New Jersey Common Pension Fund D’s portfolio.Delta Capital Management reduced its stake in QCOM by selling 4,690 shares or 12.27% in the most recent quarter. The Hedge Fund company now holds 33,545 shares of QCOM which is valued at $2,046,580. QUALCOMM makes up approx 1.53% of Delta Capital Management’s portfolio.Flossbach Von Storch Ag reduced its stake in QCOM by selling 4,172,008 shares or 87.95% in the most recent quarter. The Hedge Fund company now holds 571,800 shares of QCOM which is valued at $35,783,244. QUALCOMM makes up approx 0.59% of Flossbach Von Storch Ag’s portfolio.Lingohr Partner Asset Management Gmbh boosted its stake in QCOM in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 20,300 shares of QUALCOMM which is valued at $1,241,345. QUALCOMM makes up approx 1.19% of Lingohr Partner Asset Management Gmbh’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.

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