Gotham Asset Management buys $69,011,342 stake in QUALCOMM (QCOM)

QUALCOMM (QCOM) : Gotham Asset Management scooped up 40,798 additional shares in QUALCOMM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,118,317 shares of QUALCOMM which is valued at $69,011,342.QUALCOMM makes up approximately 0.78% of Gotham Asset Management’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in QCOM in the latest quarter, The investment management firm added 1,002,590 additional shares and now holds a total of 1,286,864 shares of QUALCOMM which is valued at $79,412,377. QUALCOMM makes up approx 0.14% of Aqr Capital Management’s portfolio.Autus Asset Management reduced its stake in QCOM by selling 10,537 shares or 36.41% in the most recent quarter. The Hedge Fund company now holds 18,400 shares of QCOM which is valued at $1,136,016. QUALCOMM makes up approx 0.25% of Autus Asset Management’s portfolio.Umb Bank N Amo reduced its stake in QCOM by selling 7,821 shares or 9.7% in the most recent quarter. The Hedge Fund company now holds 72,800 shares of QCOM which is valued at $4,550,728. QUALCOMM makes up approx 0.19% of Umb Bank N Amo’s portfolio.Strategic Advisors reduced its stake in QCOM by selling 1,490 shares or 24.49% in the most recent quarter. The Hedge Fund company now holds 4,593 shares of QCOM which is valued at $256,381. QUALCOMM makes up approx 0.14% of Strategic Advisors’s portfolio. Longer Investments sold out all of its stake in QCOM during the most recent quarter. The investment firm sold 39,770 shares of QCOM which is valued $2,219,961.

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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