Intel Corporation (INTC) Position Boosted by Peapack Gladstone Financial Corp
Peapack Gladstone Financial Corp boosted its position in Intel Corporation (NASDAQ:INTC) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 465,715 shares of the chip maker’s stock after buying an additional 4,970 shares during the period. Intel Corporation makes up 1.0% of Peapack Gladstone Financial Corp’s holdings, making the stock its 27th biggest holding. Peapack Gladstone Financial Corp’s holdings in Intel Corporation were worth $16,798,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in INTC. Cordasco Financial Network lifted its holdings in 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. Cable Hill Partners LLC lifted its holdings in Intel Corporation by 1.4% in the first quarter. Cable Hill Partners LLC now owns 18,366 shares of the chip maker’s stock valued at $663,000 after buying an additional 253 shares during the period. Grubman Wealth Management acquired a new position in Intel Corporation in the first quarter valued at $280,000. Berson & Corrado Investment Advisors LLC lifted its holdings in Intel Corporation by 1.1% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 23,410 shares of the chip maker’s stock valued at $844,000 after buying an additional 250 shares during the period. Finally, Wilsey Asset Management Inc. lifted its holdings in Intel Corporation by 19.5% in the first quarter. Wilsey Asset Management Inc. now owns 168,584 shares of the chip maker’s stock valued at $6,060,000 after buying an additional 27,565 shares during the period. Institutional investors and hedge funds own 67.09% of the company’s stock.
Several research firms have weighed in on INTC. B. Riley reaffirmed a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research note on Wednesday, August 2nd. Vetr downgraded shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.97 price target for the company. in a research note on Wednesday, August 2nd. BidaskClub raised shares of Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “hold” rating on shares of Intel Corporation in a research note on Wednesday, August 9th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $30.00 price target on shares of Intel Corporation in a research note on Wednesday, May 10th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Intel Corporation has an average rating of “Hold” and a consensus target price of $40.55.
Intel Corporation (NASDAQ INTC) traded up 1.91% during trading on Wednesday, hitting $35.69. 10,807,126 shares of the company traded hands. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The stock has a market capitalization of $167.71 billion, a PE ratio of 13.62 and a beta of 1.02. The company’s 50 day moving average is $35.34 and its 200-day moving average is $35.52. Intel Corporation also was the target of some unusual options trading activity on Tuesday. Traders acquired 21,588 put options on the company. This represents an increase of approximately 118% compared to the average volume of 9,902 put options.
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 net margin of 20.60% and a return on equity of 21.86%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts predict that Intel Corporation will post $3.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.
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In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction on Monday, August 7th. The shares were 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 directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Insiders have sold 91,921 shares of company stock worth $3,130,162 in the last quarter. Company 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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