Intel Corporation (INTC) Position Trimmed by Private Asset Management Inc.
Private Asset Management Inc. cut its holdings in shares of Intel Corporation (NASDAQ:INTC) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 457,721 shares of the chip maker’s stock after selling 809 shares during the quarter. Intel Corporation comprises approximately 2.5% of Private Asset Management Inc.’s portfolio, making the stock its 13th biggest holding. Private Asset Management Inc.’s holdings in Intel Corporation were worth $15,444,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Schwab Charles Investment Management Inc. increased its stake in Intel Corporation by 3.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 23,861,041 shares of the chip maker’s stock worth $860,668,000 after acquiring an additional 764,551 shares during the last quarter. Fisher Asset Management LLC increased its stake in Intel Corporation by 1.0% during the first quarter. Fisher Asset Management LLC now owns 20,167,657 shares of the chip maker’s stock worth $727,447,000 after acquiring an additional 207,118 shares during the last quarter. Sanders Capital LLC increased its stake in Intel Corporation by 2.2% during the first quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock worth $545,383,000 after acquiring an additional 316,800 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Intel Corporation by 0.8% during the first quarter. Russell Investments Group Ltd. now owns 9,075,156 shares of the chip maker’s stock worth $327,403,000 after acquiring an additional 68,534 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in Intel Corporation by 11.9% during the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock worth $300,238,000 after acquiring an additional 882,905 shares during the last quarter. Hedge funds and other institutional investors own 67.09% of the company’s stock.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the transaction, the insider now owns 1,536 shares in the company, valued at $55,910.40. The disclosure for this sale can be found here. Insiders sold a total of 91,921 shares of company stock valued at $3,130,162 over the last ninety days. 0.08% of the stock is currently owned by insiders.
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Several equities research analysts have commented on the company. J P Morgan Chase & Co restated an “overweight” rating on shares of Intel Corporation in a research note on Thursday. Zacks Investment Research upgraded Intel Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Thursday. Canaccord Genuity restated a “hold” rating and set a $38.00 price target on shares of Intel Corporation in a research note on Monday. Robert W. Baird restated an “outperform” rating and set a $45.00 price target on shares of Intel Corporation in a research note on Tuesday, September 5th. Finally, ValuEngine lowered Intel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.60.
Shares of Intel Corporation (NASDAQ:INTC) traded up 0.74% during midday trading on Thursday, reaching $36.60. 8,119,790 shares of the company traded hands. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The company has a 50-day moving average of $35.49 and a 200 day moving average of $35.51. The firm has a market capitalization of $171.98 billion, a PE ratio of 13.97 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that Intel Corporation will post $3.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.00%. 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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