Intel Corporation (INTC) Stake Cut by Appleton Partners Inc. MA
Appleton Partners Inc. MA lowered its position in Intel Corporation (NASDAQ:INTC) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,115 shares of the chip maker’s stock after selling 2,526 shares during the period. Appleton Partners Inc. MA’s holdings in Intel Corporation were worth $1,555,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. raised its stake 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 period. Vigilant Capital Management LLC raised its stake 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 period. ARP Americas LLC purchased a new stake in Intel Corporation during the first quarter worth about $202,000. Cordasco Financial Network increased its stake in 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 in the last quarter. Finally, Baystate Wealth Management LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.
Intel Corporation (INTC) traded down 0.12% during trading on Friday, reaching $34.67. The company had a trading volume of 14,726,829 shares. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The stock has a 50 day moving average of $35.18 and a 200-day moving average of $35.58. The stock has a market capitalization of $162.91 billion, a P/E ratio of 13.23 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last posted its 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. The firm had revenue of $14.76 billion for 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%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s payout ratio is currently 41.76%.
INTC has been the subject of a number of recent research reports. Zacks Investment Research downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $39.00 target price on shares of Intel Corporation in a research report on Friday, July 14th. Bank of America Corporation downgraded Intel Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a research report on Wednesday, June 21st. Credit Suisse Group reissued a “neutral” rating and issued a $35.00 target price on shares of Intel Corporation in a research report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of Intel Corporation in a research report on Friday, July 14th. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.58.
In other Intel Corporation news, CFO Robert Holmes Swan acquired 13,888 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average cost of $36.31 per share, with a total value of $504,273.28. Following the transaction, the chief financial officer now owns 8,774 shares of the company’s stock, valued at approximately $318,583.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the transaction, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock worth $3,130,162 over the last three months. 0.09% of the stock is currently owned by insiders.
Intel Corporation Company 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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