QUALCOMM (QCOM) : Beaumont Financial Partners added new position in QUALCOMM during the most recent quarter end. The investment management firm now holds 27,010 shares of QUALCOMM which is valued at $1,666,787 , the company said in a statement filed on Aug 10, 2016 with the SEC.QUALCOMM makes up approximately 0.27% of Beaumont Financial Partners’s portfolio.
Other Hedge Funds, Including , Monetta Financial Services Inc added QCOM to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $617,100. QUALCOMM makes up approx 0.37% of Monetta Financial Services Inc’s portfolio.Investment Centers Of America Inc reduced its stake in QCOM by selling 2,219 shares or 24.57% in the most recent quarter. The Hedge Fund company now holds 6,813 shares of QCOM which is valued at $419,545. QUALCOMM makes up approx 0.03% of Investment Centers Of America Inc’s portfolio.Gardiner Nancy B boosted its stake in QCOM in the latest quarter, The investment management firm added 1,425 additional shares and now holds a total of 9,030 shares of QUALCOMM which is valued at $557,512. QUALCOMM makes up approx 1.75% of Gardiner Nancy B’s portfolio.Convector Capital Management Lp reduced its stake in QCOM by selling 40,000 shares or 36.36% in the most recent quarter. The Hedge Fund company now holds 70,000 shares of QCOM which is valued at $4,340,000. QUALCOMM makes up approx 5.69% of Convector Capital Management Lp’s portfolio.Conning boosted its stake in QCOM in the latest quarter, The investment management firm added 19,357 additional shares and now holds a total of 475,737 shares of QUALCOMM which is valued at $29,738,320. QUALCOMM makes up approx 1.23% of Conning’s portfolio.
QUALCOMM closed down -0.28 points or -0.44% at $62.76 with 70,92,997 shares getting traded on Friday. Post opening the session at $62.61, the shares hit an intraday low of $62.01 and an intraday high of $62.84 and the price fluctuated in this range throughout the day.Shares ended Friday 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.