Cue Financial Group Inc. Increases Holdings in Intel Corporation (INTC)
Cue Financial Group Inc. raised its stake in shares of Intel Corporation (NASDAQ:INTC) by 16.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,577 shares of the chip maker’s stock after buying an additional 4,417 shares during the period. Cue Financial Group Inc.’s holdings in Intel Corporation were worth $1,065,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. Watermark Asset Management Inc. purchased a new stake in Intel Corporation during the 1st quarter valued at $113,000. Orrstown Financial Services Inc. raised its stake in Intel Corporation by 96.6% during the 1st quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares during the last quarter. Vigilant Capital Management LLC raised its stake in Intel Corporation by 22.6% during the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares during the last quarter. Finally, Farmers National Bank raised its stake in Intel Corporation by 5.1% during the 1st quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock valued at $183,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.
Shares of Intel Corporation (INTC) traded up 1.43% during midday trading on Friday, reaching $37.00. 33,596,072 shares of the company’s stock traded hands. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm’s 50-day moving average price is $35.64 and its 200 day moving average price is $35.52. The stock has a market capitalization of $173.86 billion, a P/E ratio of 14.12 and a beta of 1.02.
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 consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
INTC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a research note on Wednesday, July 12th. BidaskClub lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of Intel Corporation in a research note on Wednesday, August 23rd. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Intel Corporation has a consensus rating of “Hold” and an average target price of $40.60.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction that occurred on 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 approximately $55,910.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the transaction, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 in the last quarter. 0.08% of the stock is currently owned by company insiders.
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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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