Dearborn Partners buys $21,616,909 stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Dearborn Partners scooped up 18,285 additional shares in QUALCOMM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 387,261 shares of QUALCOMM which is valued at $21,616,909.QUALCOMM makes up approximately 1.84% of Dearborn Partners’s portfolio.

Other Hedge Funds, Including , Iab Financial Bank boosted its stake in QCOM in the latest quarter, The investment management firm added 1,620 additional shares and now holds a total of 24,270 shares of QUALCOMM which is valued at $1,354,751. QUALCOMM makes up approx 0.83% of Iab Financial Bank’s portfolio.Capital Analysts reduced its stake in QCOM by selling 42,120 shares or 90.68% in the most recent quarter. The Hedge Fund company now holds 4,330 shares of QCOM which is valued at $239,666. QUALCOMM makes up approx 0.05% of Capital Analysts’s portfolio. Denali Advisors added QCOM to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $33,210. QUALCOMM makes up approx 0.01% of Denali Advisors’s portfolio.

QUALCOMM opened for trading at $55.36 and hit $55.95 on the upside on Wednesday, eventually ending the session at $55.82, with a gain of 1.23% or 0.68 points. The heightened volatility saw the trading volume jump to 1,72,04,320 shares. Company has a market cap of $81,995 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.

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 Evercore ISI to ” Hold” on Jul 1, 2016. QUALCOMM was Downgraded by Bernstein to ” Mkt Perform” on Jun 30, 2016. QUALCOMM was Downgraded by Brean Capital to ” Hold” on Jun 9, 2016.

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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