Westchester Capital Management Inc. decreased its stake in Intel Corporation (NASDAQ:INTC) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,968 shares of the chip maker’s stock after selling 3,080 shares during the period. Intel Corporation accounts for 4.4% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Westchester Capital Management Inc.’s holdings in Intel Corporation were worth $9,197,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Orrstown Financial Services Inc. lifted its stake in shares of Intel Corporation by 96.6% in the 1st quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after acquiring an additional 1,830 shares during the period. Vigilant Capital Management LLC increased its holdings in shares of Intel Corporation by 22.6% in the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after purchasing an additional 805 shares in the last quarter. ARP Americas LLC purchased a new position in shares of Intel Corporation in the 1st quarter valued at about $202,000. Baystate Wealth Management LLC increased its holdings in shares of Intel Corporation by 101.2% in the 1st quarter. Baystate Wealth Management LLC now owns 5,737 shares of the chip maker’s stock valued at $204,000 after purchasing an additional 2,885 shares in the last quarter. Finally, Cordasco Financial Network increased its holdings in shares of Intel Corporation by 0.7% in the 1st quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock valued at $206,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.
In other news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the transaction, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.
Intel Corporation (INTC) traded up 1.43% on Friday, hitting $37.00. The company’s stock had a trading volume of 33,596,072 shares. The firm has a 50 day moving average of $35.64 and a 200-day moving average of $35.52. The stock has a market cap of $173.86 billion, a PE ratio of 14.12 and a beta of 1.02. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data 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 firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. On average, analysts expect that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is 41.76%.
Several research firms have weighed in on INTC. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the company a “hold” rating in a report on Saturday, June 3rd. B. Riley reiterated a “buy” rating and set a $46.00 price target on shares of Intel Corporation in a report on Friday, July 28th. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price target for the company in a report on Monday, June 12th. Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Wednesday, June 21st. Finally, Summit Redstone reissued a “hold” rating on shares of Intel Corporation in a research report on Saturday, July 22nd. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.60.
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Intel Corporation Company 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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