North Star Asset Management Inc. Decreases Stake in Intel Corporation (INTC)
North Star Asset Management Inc. decreased its stake in Intel Corporation (NASDAQ:INTC) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 141,018 shares of the chip maker’s stock after selling 2,812 shares during the period. North Star Asset Management Inc.’s holdings in Intel Corporation were worth $5,087,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orrstown Financial Services Inc. increased its position in Intel Corporation by 96.6% in the first 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. increased its position in 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 valued at $146,000 after buying an additional 1,400 shares during the last quarter. Vigilant Capital Management LLC increased its position in Intel Corporation by 22.6% in the first 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. Security Asset Management purchased a new position in Intel Corporation during the fourth quarter valued at $162,000. Finally, Farmers National Bank increased its position in Intel Corporation by 5.1% in the first 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 own 67.31% of the company’s stock.
Intel Corporation (NASDAQ:INTC) traded down 0.66% during mid-day trading on Tuesday, reaching $36.10. The company had a trading volume of 5,832,928 shares. The firm has a market capitalization of $169.63 billion, a PE ratio of 13.78 and a beta of 1.01. The stock’s 50-day moving average price is $34.90 and its 200 day moving average price is $35.68. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45.
Intel Corporation (NASDAQ:INTC) last issued 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 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 firm posted $0.59 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intel Corporation will post $3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 yield of 3.00%. Intel Corporation’s dividend payout ratio is currently 41.76%.
INTC has been the subject of several analyst reports. B. Riley restated a “buy” rating and issued a $44.00 target price on shares of Intel Corporation in a research note on Wednesday, May 3rd. Sanford C. Bernstein set a $30.00 target price on Intel Corporation and gave the stock a “sell” rating in a research note on Tuesday. Vetr downgraded Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 target price for the company. in a research note on Tuesday, August 8th. BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC set a $38.00 target price on Intel Corporation and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.55.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction dated 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 approximately $55,910.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction dated 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 sale, the chief executive officer now directly 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. In the last ninety days, insiders have sold 91,921 shares of company stock valued at $3,130,162. 0.09% of the stock is currently owned by insiders.
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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