40,538 Shares in Intel Corporation (INTC) Purchased by Summit Financial Group Inc.
Summit Financial Group Inc. bought a new stake 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. The firm bought 40,538 shares of the chip maker’s stock, valued at approximately $1,368,000. Intel Corporation accounts for about 1.2% of Summit Financial Group Inc.’s portfolio, making the stock its 24th largest holding.
Other hedge funds have also modified their holdings of the company. Watermark Asset Management Inc. purchased a new stake in Intel Corporation during the 1st quarter worth $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the period. Vigilant Capital Management LLC increased its stake in Intel Corporation by 22.6% during the 1st 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. Orrstown Financial Services Inc. increased its stake in Intel Corporation by 23.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock worth $155,000 after buying an additional 857 shares during the period. Finally, Winfield Associates Inc. increased its stake in Intel Corporation by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares during the period. 67.07% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms recently issued reports on INTC. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target on shares of Intel Corporation in a research note on Wednesday. Canaccord Genuity lifted their price target on shares of Intel Corporation from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Sanford C. Bernstein set a $34.00 price target on shares of Intel Corporation and gave the stock a “sell” rating in a research note on Friday, October 27th. BMO Capital Markets raised shares of Intel Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Intel Corporation in a research note on Friday, October 27th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Intel Corporation presently has an average rating of “Buy” and an average price target of $42.91.
Shares of Intel Corporation (INTC) opened at 45.49 on Wednesday. The company has a market capitalization of $213.76 billion, a P/E ratio of 17.36 and a beta of 1.07. The firm has a 50-day moving average of $39.24 and a 200 day moving average of $36.43. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $45.80.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.21. The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. On average, analysts anticipate that Intel Corporation will post $3.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.40%. Intel Corporation’s dividend payout ratio is currently 38.11%.
In other news, EVP Diane M. Bryant sold 570 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $44.49, for a total transaction of $25,359.30. Following the completion of the transaction, the executive vice president now directly owns 110,850 shares of the company’s stock, valued at approximately $4,931,716.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 659,036 shares of company stock valued at $28,858,170 over the last ninety days. Company insiders own 0.08% of the company’s stock.
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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