Intel Corporation (INTC) Stake Reduced by Sequoia Financial Advisors LLC
Sequoia Financial Advisors LLC reduced its position in Intel Corporation (NASDAQ:INTC) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,579 shares of the chip maker’s stock after selling 3,102 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intel Corporation were worth $4,494,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Orrstown Financial Services Inc. raised its position in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the last quarter. Vigilant Capital Management LLC raised its position in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the last quarter. ARP Americas LLC purchased a new position in shares of Intel Corporation during the first quarter worth $202,000. Cordasco Financial Network raised its position 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 worth $206,000 after buying an additional 38 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its position in shares of Intel Corporation by 101.2% in the first quarter. Baystate Wealth Management LLC now owns 5,737 shares of the chip maker’s stock worth $204,000 after buying an additional 2,885 shares during the last quarter. Institutional investors own 67.07% of the company’s stock.
Intel Corporation (NASDAQ INTC) remained flat at $34.67 during trading on Monday. 3,054,826 shares of the company traded hands. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The company has a 50 day moving average price of $35.18 and a 200 day moving average price of $35.58. The firm has a market capitalization of $162.91 billion, a PE ratio of 13.23 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Equities research analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a $0.2725 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.14%. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
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A number of equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $44.00 price objective on shares of Intel Corporation in a report on Wednesday, May 3rd. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Vetr lowered shares of 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. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the company a “hold” rating in a research note on Saturday, June 3rd. Finally, Sanford C. Bernstein set a $30.00 target price on shares of Intel Corporation and gave the company a “sell” rating in a research note on Tuesday, August 15th. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Intel Corporation has a consensus rating of “Hold” and an average price target of $40.58.
In related news, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now owns 534,746 shares in the company, valued at $18,015,592.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,921 shares of company stock valued at $3,130,162. Insiders own 0.08% 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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