Intel Corporation (INTC) Shares Bought by Needelman Asset Management Inc.
Needelman Asset Management Inc. lifted its holdings in shares of Intel Corporation (NASDAQ:INTC) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,745 shares of the chip maker’s stock after purchasing an additional 150 shares during the period. Intel Corporation accounts for about 2.8% of Needelman Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Needelman Asset Management Inc.’s holdings in Intel Corporation were worth $1,105,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Summit Asset Management LLC boosted its position in shares of Intel Corporation by 0.7% during the 1st quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock valued at $227,000 after purchasing an additional 46 shares in the last quarter. First Hawaiian Bank boosted its position in shares of Intel Corporation by 0.9% during the 1st quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock valued at $208,000 after purchasing an additional 50 shares in the last quarter. First Command Financial Services Inc. boosted its position in shares of Intel Corporation by 0.4% during the 1st quarter. First Command Financial Services Inc. now owns 12,607 shares of the chip maker’s stock valued at $455,000 after purchasing an additional 51 shares in the last quarter. Hudock Capital Group LLC boosted its position in shares of Intel Corporation by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock valued at $453,000 after purchasing an additional 53 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA boosted its position in shares of Intel Corporation by 0.9% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 9,345 shares of the chip maker’s stock valued at $337,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 67.09% of the company’s stock.
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INTC has been the topic of several research analyst reports. Zacks Investment Research lowered Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Intel Corporation in a report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Intel Corporation in a report on Wednesday, July 12th. BidaskClub lowered Intel Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of Intel Corporation in a report on Wednesday, August 23rd. 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 assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.60.
In other Intel Corporation news, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $34.68, for a total value of $73,486.92. Following the completion of the sale, the executive vice president now directly owns 108,471 shares in the company, valued at $3,761,774.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,921 shares of company stock valued at $3,130,162. 0.08% of the stock is owned by insiders.
Intel Corporation (NASDAQ INTC) traded up 1.43% during trading on Friday, reaching $37.00. The company had a trading volume of 33,596,072 shares. The stock has a 50 day moving average of $35.64 and a 200-day moving average of $35.52. The stock has a market capitalization of $173.86 billion, a P/E ratio of 14.12 and a beta of 1.02. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. On average, analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a yield of 2.95%. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.
Intel Corporation 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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