Spo Advisory Corp Lowers stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Spo Advisory Corp reduced its stake in QUALCOMM by 1.52% during the most recent quarter end. The investment management company now holds a total of 9,294,719 shares of QUALCOMM which is valued at $573,577,109 after selling 143,532 shares in QUALCOMM , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.QUALCOMM makes up approximately 9.20% of Spo Advisory Corp’s portfolio.

Other Hedge Funds, Including , Cornercap Investment Counsel Inc added QCOM to its portfolio by purchasing 36,230 company shares during the most recent quarter which is valued at $2,235,753. QUALCOMM makes up approx 0.40% of Cornercap Investment Counsel Inc’s portfolio.Nippon Life Insurance Co reduced its stake in QCOM by selling 15,336 shares or 21.62% in the most recent quarter. The Hedge Fund company now holds 55,606 shares of QCOM which is valued at $3,392,522. QUALCOMM makes up approx 0.08% of Nippon Life Insurance Co’s portfolio.Jfs Wealth Advisors reduced its stake in QCOM by selling 19 shares or 0.58% in the most recent quarter. The Hedge Fund company now holds 3,274 shares of QCOM which is valued at $204,658. QUALCOMM makes up approx 0.06% of Jfs Wealth Advisors’s portfolio.

QUALCOMM opened for trading at $62.87 and hit $63.5 on the upside on Thursday, eventually ending the session at $63.47, with a gain of 0.63% or 0.4 points. The heightened volatility saw the trading volume jump to 69,06,300 shares. Company has a market cap of $93,532 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 Mizuho on Sep 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 59 from a previous price target of $56 .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 .

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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