Intel Corporation (INTC) Position Reduced by Cacti Asset Management LLC
Cacti Asset Management LLC cut its stake in shares of Intel Corporation (NASDAQ:INTC) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 79,400 shares of the chip maker’s stock after selling 2,500 shares during the period. Cacti Asset Management LLC’s holdings in Intel Corporation were worth $2,663,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its stake in Intel Corporation by 24.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 6,728 shares of the chip maker’s stock valued at $244,000 after buying an additional 1,323 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Intel Corporation by 0.8% in the fourth quarter. Perigon Wealth Management LLC now owns 63,476 shares of the chip maker’s stock valued at $2,279,000 after buying an additional 478 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Intel Corporation during the fourth quarter valued at $12,363,000. Whalerock Point Partners LLC raised its stake in Intel Corporation by 0.5% in the fourth quarter. Whalerock Point Partners LLC now owns 21,522 shares of the chip maker’s stock valued at $780,000 after buying an additional 100 shares during the last quarter. Finally, Auxier Asset Management raised its stake in Intel Corporation by 1.2% in the fourth quarter. Auxier Asset Management now owns 44,165 shares of the chip maker’s stock valued at $1,602,000 after buying an additional 514 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corporation (NASDAQ INTC) traded down 0.129% during midday trading on Monday, hitting $34.965. The stock had a trading volume of 8,291,286 shares. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm has a market capitalization of $164.30 billion, a price-to-earnings ratio of 13.345 and a beta of 1.01. The firm has a 50-day moving average price of $35.09 and a 200-day moving average price of $35.65.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, equities research analysts anticipate that Intel Corporation will post $3.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 annualized dividend and a dividend yield of 3.11%. Intel Corporation’s payout ratio is 41.76%.
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Several analysts have weighed in on INTC shares. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Stifel Nicolaus reiterated a “buy” rating and set a $39.00 target price on shares of Intel Corporation in a research note on Friday, July 14th. Bank of America Corporation lowered shares of Intel Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $38.00 in a research note on Wednesday, June 21st. Credit Suisse Group reiterated a “neutral” rating and set a $35.00 target price on shares of Intel Corporation in a research note on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Intel Corporation in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.55.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’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 completion of the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. In the last three months, insiders sold 91,921 shares of company stock valued at $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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