Investors Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Investors sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Wednesday. $103.59 million flowed into the stock on the tick-up and $138.34 million flowed out of the stock on the tick-down, for a money net flow of $34.75 million out of the stock. Of all stocks tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.07 for the day and closed at $35.01
INTC has been the topic of a number of analyst reports. Cowen and Company reiterated a “market perform” rating and set a $36.00 price objective (up previously from $32.00) on shares of Intel Corp. in a research note on Monday. Vetr lowered shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price target for the company. in a research note on Monday, July 4th. Royal Bank Of Canada lifted their price target on shares of Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, July 8th. Sanford C. Bernstein set a $26.00 price target on shares of Intel Corp. and gave the stock a “sell” rating in a research note on Monday, May 30th. Finally, Wedbush restated an “outperform” rating and issued a $39.00 price target (down previously from $41.00) on shares of Intel Corp. in a research note on Thursday, April 14th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $36.04.
The stock’s 50-day moving average is $32.29 and its 200-day moving average is $31.29. The stock has a market cap of $165.32 billion and a price-to-earnings ratio of 14.96.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, April 19th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. The business had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.83 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Intel Corp. will post $2.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.97%.
In other Intel Corp. news, VP William M. Holt sold 4,603 shares of the stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $31.35, for a total value of $144,304.05. Following the transaction, the vice president now owns 22,131 shares in the company, valued at $693,806.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andy D. Bryant sold 185,740 shares of the stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $31.98, for a total value of $5,939,965.20. Following the completion of the transaction, the chairman now owns 386,731 shares in the company, valued at approximately $12,367,657.38. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Cobblestone Capital Advisors LLC NY raised its position in shares of Intel Corp. by 11.0% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 29,280 shares of the chip maker’s stock valued at $1,009,000 after buying an additional 2,913 shares during the last quarter. Bollard Group LLC raised its position in shares of Intel Corp. by 0.7% in the fourth quarter. Bollard Group LLC now owns 31,159 shares of the chip maker’s stock valued at $1,073,000 after buying an additional 215 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Intel Corp. by 1.0% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 31,704 shares of the chip maker’s stock valued at $1,092,000 after buying an additional 310 shares during the last quarter. Birch Hill Investment Advisors LLC raised its position in shares of Intel Corp. by 1.9% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 31,973 shares of the chip maker’s stock valued at $1,101,000 after buying an additional 600 shares during the last quarter. Finally, Atlanta Capital Group raised its position in shares of Intel Corp. by 87.0% in the fourth quarter. Atlanta Capital Group now owns 32,790 shares of the chip maker’s stock valued at $1,130,000 after buying an additional 15,252 shares during the last quarter.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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