CWM LLC cut its stake in Intel Corporation (NASDAQ:INTC) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,843 shares of the chip maker’s stock after selling 2,146 shares during the period. CWM LLC’s holdings in Intel Corporation were worth $906,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cordasco Financial Network raised its stake in shares of Intel Corporation by 0.7% in the first quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock valued at $206,000 after buying an additional 38 shares during the period. Summit Asset Management LLC raised its stake in shares of Intel Corporation by 0.7% in the first quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock valued at $227,000 after buying an additional 46 shares during the period. First Hawaiian Bank raised its stake in shares of Intel Corporation by 0.9% in the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock valued at $208,000 after buying an additional 50 shares during the period. First Command Financial Services Inc. raised its stake in shares of Intel Corporation by 0.4% in the first quarter. First Command Financial Services Inc. now owns 12,607 shares of the chip maker’s stock valued at $455,000 after buying an additional 51 shares during the period. Finally, Conservest Capital Advisors Inc. raised its position in Intel Corporation by 0.6% in the second quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock worth $302,000 after buying an additional 51 shares during the period. Institutional investors own 67.31% of the company’s stock.
Shares of Intel Corporation (NASDAQ INTC) traded down 0.45% during trading on Friday, hitting $35.01. 16,231,408 shares of the company were exchanged. The stock has a market capitalization of $164.51 billion, a PE ratio of 13.36 and a beta of 1.01. The company has a 50 day moving average of $35.09 and a 200-day moving average of $35.65. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Intel Corporation will post $3.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.11%. Intel Corporation’s payout ratio is currently 41.76%.
A number of equities analysts have commented on INTC shares. Sanford C. Bernstein restated a “sell” rating on shares of Intel Corporation in a research report on Tuesday, April 25th. B. Riley restated a “buy” rating and issued a $44.00 price target on shares of Intel Corporation in a research report on Friday, April 28th. Jefferies Group LLC lowered shares of Intel Corporation to a “hold” rating and boosted their price target for the company from $36.00 to $38.00 in a research report on Friday, April 28th. Cowen and Company reiterated a “market perform” rating and set a $39.00 target price on shares of Intel Corporation in a research report on Friday, April 28th. Finally, Mizuho reiterated a “buy” rating on shares of Intel Corporation in a research report on Friday, April 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.55.
In related news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was 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 of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value of $2,431,508.37. Following the completion of the transaction, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,921 shares of company stock worth $3,130,162. 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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