Sheets Smith Wealth Management Cuts Position in Intel Corporation (INTC)
Sheets Smith Wealth Management cut its position in shares of Intel Corporation (NASDAQ:INTC) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,515 shares of the chip maker’s stock after selling 142 shares during the period. Sheets Smith Wealth Management’s holdings in Intel Corporation were worth $625,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Watermark Asset Management Inc. acquired a new stake in shares of Intel Corporation during the first quarter worth $113,000. Orrstown Financial Services Inc. raised its stake in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Intel Corporation by 53.0% in 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. Vigilant Capital Management LLC raised its stake in shares of Intel Corporation by 22.6% in 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, Security Asset Management acquired a new stake in shares of Intel Corporation during the fourth quarter worth $162,000. Institutional investors own 67.31% of the company’s stock.
Intel Corporation (NASDAQ INTC) traded down 1.019% during trading on Thursday, hitting $35.445. The stock had a trading volume of 6,918,452 shares. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The stock has a market capitalization of $166.56 billion, a P/E ratio of 13.529 and a beta of 1.01. The company has a 50-day moving average of $35.02 and a 200-day moving average of $35.67.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS 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 firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s payout ratio is currently 41.76%.
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Several research firms recently issued reports on INTC. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Intel Corporation in a report on Wednesday, May 3rd. Vetr cut Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target on the stock. in a report on Tuesday, August 8th. BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $38.00 price target on Intel Corporation and gave the company a “hold” rating in a report on Saturday, June 3rd. Finally, Sanford C. Bernstein set a $30.00 price target on Intel Corporation and gave the company a “sell” rating in a report on Tuesday. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.55.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at $55,910.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.
About Intel Corporation
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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