Park Avenue Securities LLC Acquires New Stake in Intel Corporation (INTC)
Park Avenue Securities LLC acquired a new position in Intel Corporation (NASDAQ:INTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,225 shares of the chip maker’s stock, valued at approximately $327,000.
Several other hedge funds have also made changes to their positions in INTC. Glenview Capital Management LLC bought a new stake in shares of Intel Corporation in the first quarter worth $177,881,000. DnB Asset Management AS lifted its position in shares of Intel Corporation by 72.2% in the second quarter. DnB Asset Management AS now owns 9,355,948 shares of the chip maker’s stock worth $315,670,000 after purchasing an additional 3,922,470 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Intel Corporation by 112.1% in the first quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock worth $62,804,000 after purchasing an additional 920,285 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock worth $300,238,000 after purchasing an additional 882,905 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Intel Corporation by 87.0% in the first quarter. WINTON GROUP Ltd now owns 1,856,380 shares of the chip maker’s stock worth $70,078,000 after purchasing an additional 863,659 shares in the last quarter. 67.02% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on INTC shares. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and set a $39.00 target price on shares of Intel Corporation in a report on Friday, July 14th. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price on shares of Intel Corporation in a report on Tuesday, July 4th. Bank of America Corporation downgraded shares of Intel Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $38.00 in a report on Wednesday, June 21st. Finally, ValuEngine downgraded shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-five have given a buy rating to the stock. Intel Corporation presently has an average rating of “Hold” and a consensus target price of $40.68.
In other Intel Corporation news, CEO Brian M. Krzanich sold 61,860 shares of Intel Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the completion of the transaction, the chief executive officer now owns 543,948 shares of the company’s stock, valued at approximately $21,072,545.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The disclosure for this sale can be found here. Insiders have sold a total of 81,608 shares of company stock valued at $3,095,110 in the last ninety days. Insiders own 0.08% of the company’s stock.
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Intel Corporation (NASDAQ INTC) opened at 39.63 on Monday. The company has a 50 day moving average of $36.48 and a 200 day moving average of $35.78. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $39.89. The firm has a market capitalization of $186.22 billion, a P/E ratio of 15.13 and a beta of 1.07.
Intel Corporation (NASDAQ:INTC) last posted its earnings results 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. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s quarterly 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 EPS. On average, equities research analysts anticipate that Intel Corporation will post $3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, November 6th. Intel Corporation’s payout ratio is presently 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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