SPC Financial Inc. lowered its holdings in shares of Intel Corporation (NASDAQ:INTC) by 12.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,551 shares of the chip maker’s stock after selling 1,547 shares during the period. SPC Financial Inc.’s holdings in Intel Corporation were worth $356,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in INTC. Watermark Asset Management Inc. bought a new position in shares of Intel Corporation during the first quarter valued at $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Intel Corporation by 53.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the period. Orrstown Financial Services Inc. increased its position in shares of Intel Corporation by 23.0% during the second quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock worth $155,000 after buying an additional 857 shares during the period. Vigilant Capital Management LLC increased its position in shares of Intel Corporation by 22.6% during the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the period. Finally, Farmers National Bank increased its position in shares of Intel Corporation by 5.1% during the first quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock worth $183,000 after buying an additional 234 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.
INTC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Intel Corporation in a research report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price objective on shares of Intel Corporation in a research report on Wednesday, July 12th. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, ValuEngine cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Intel Corporation presently has a consensus rating of “Hold” and an average target price of $40.60.
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In other news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now owns 1,536 shares in the company, valued at $54,481.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares in the company, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold 91,921 shares of company stock worth $3,130,162 in the last 90 days. Insiders own 0.08% of the company’s stock.
Intel Corporation (NASDAQ INTC) traded up 0.403% during trading on Tuesday, reaching $37.149. 12,635,632 shares of the company’s stock traded hands. The company has a 50 day moving average of $35.69 and a 200 day moving average of $35.52. The firm has a market cap of $174.56 billion, a price-to-earnings ratio of 14.179 and a beta of 1.02. Intel Corporation has a one year low of $33.23 and a one year high of $38.45.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that Intel Corporation will post $3.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.95%. Intel Corporation’s payout ratio is 41.76%.
Intel Corporation Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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