Bridge Creek Capital Management LLC Lowers Position in Intel Corporation (INTC)
Bridge Creek Capital Management LLC decreased its stake in shares of Intel Corporation (NASDAQ:INTC) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,628 shares of the chip maker’s stock after selling 2,328 shares during the period. Intel Corporation accounts for 2.1% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Bridge Creek Capital Management LLC’s holdings in Intel Corporation were worth $3,702,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC purchased a new stake in Intel Corporation during the first quarter valued at about $14,106,000. Parsons Capital Management Inc. RI raised its stake in Intel Corporation by 0.3% in the first quarter. Parsons Capital Management Inc. RI now owns 263,610 shares of the chip maker’s stock valued at $9,508,000 after buying an additional 693 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in Intel Corporation by 10.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 408,503 shares of the chip maker’s stock valued at $14,734,000 after buying an additional 38,642 shares during the period. Wetherby Asset Management Inc. raised its stake in Intel Corporation by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 91,792 shares of the chip maker’s stock valued at $3,311,000 after buying an additional 706 shares during the period. Finally, Vigilant Capital Management LLC raised its stake 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 period. Institutional investors and hedge funds own 67.31% of the company’s stock.
Intel Corporation (NASDAQ INTC) traded up 0.03% on Friday, hitting $34.72. The stock had a trading volume of 3,039,690 shares. The firm’s 50-day moving average price is $35.15 and its 200-day moving average price is $35.59. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm has a market cap of $163.15 billion, a P/E ratio of 13.25 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS 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 company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $0.59 EPS. Intel Corporation’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 earnings per share for the current year.
The company 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. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s payout ratio is 41.76%.
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Several research firms have recently issued reports on INTC. BidaskClub lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Friday. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 target price for the company in a report on Thursday. Royal Bank Of Canada restated a “sell” rating on shares of Intel Corporation in a report on Thursday. Argus restated a “buy” rating and issued a $45.00 target price on shares of Intel Corporation in a report on Wednesday. Finally, Rosenblatt Securities restated a “sell” rating on shares of Intel Corporation in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.58.
In other news, CFO Robert Holmes Swan purchased 13,888 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was bought at an average cost of $36.31 per share, for a total transaction of $504,273.28. Following the purchase, the chief financial officer now owns 8,774 shares of the company’s stock, valued at $318,583.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction on Monday, August 7th. The shares were 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 owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Insiders sold a total of 91,921 shares of company stock valued at $3,130,162 over the last quarter. 0.09% of the stock is owned by corporate insiders.
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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