CG Asset Management LLC Has $4,457,000 Stake in Intel Corporation (INTC)
CG Asset Management LLC increased its stake in Intel Corporation (NASDAQ:INTC) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,065 shares of the chip maker’s stock after buying an additional 20,210 shares during the period. Intel Corporation accounts for 1.7% of CG Asset Management LLC’s holdings, making the stock its 15th largest position. CG Asset Management LLC’s holdings in Intel Corporation were worth $4,457,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of INTC. Vanguard Group Inc. raised its stake in Intel Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock valued at $9,824,733,000 after buying an additional 5,697,051 shares during the period. Capital World Investors raised its stake in Intel Corporation by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock valued at $5,479,164,000 after buying an additional 8,095,076 shares during the period. Capital Research Global Investors raised its stake in Intel Corporation by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock valued at $3,381,823,000 after buying an additional 4,719,872 shares during the period. Dimensional Fund Advisors LP raised its stake in Intel Corporation by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock valued at $1,498,217,000 after buying an additional 8,662,708 shares during the period. Finally, Primecap Management Co. CA raised its stake in Intel Corporation by 1.0% in the second quarter. Primecap Management Co. CA now owns 32,038,210 shares of the chip maker’s stock valued at $1,050,853,000 after buying an additional 324,225 shares during the period. 64.78% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corporation (NASDAQ:INTC) opened at 36.79 on Friday. The firm has a market capitalization of $174.35 billion, a P/E ratio of 17.26 and a beta of 1.06. Intel Corporation has a 52 week low of $27.68 and a 52 week high of $38.36. The firm has a 50-day moving average price of $35.92 and a 200-day moving average price of $35.42.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Intel Corporation had a net margin of 17.90% and a return on equity of 21.05%. The business earned $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Intel Corporation will post $2.67 EPS for the current year.
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Several analysts have commented on the company. Zacks Investment Research lowered Intel Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. BNP Paribas set a $37.00 price objective on Intel Corporation and gave the company a “neutral” rating in a report on Monday, September 19th. Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $41.20 price target on the stock. in a research note on Wednesday, October 12th. Cowen and Company lifted their price target on Intel Corporation from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, September 16th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target on shares of Intel Corporation in a research note on Wednesday, October 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Intel Corporation presently has an average rating of “Buy” and a consensus price target of $39.78.
In other Intel Corporation news, EVP Diane M. Bryant sold 11,607 shares of Intel Corporation stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $34.74, for a total value of $403,227.18. Following the completion of the sale, the executive vice president now owns 112,006 shares in the company, valued at approximately $3,891,088.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 79,051 shares of Intel Corporation stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $36.49, for a total transaction of $2,884,570.99. Following the completion of the sale, the chief executive officer now owns 394,406 shares of the company’s stock, valued at approximately $14,391,874.94. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
About Intel Corporation
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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