Destination Wealth Management Sells 4,159 Shares of Intel Corporation (INTC)
Destination Wealth Management trimmed its position in shares of Intel Corporation (NASDAQ:INTC) by 12.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,470 shares of the chip maker’s stock after selling 4,159 shares during the quarter. Destination Wealth Management’s holdings in Intel were worth $994,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Murphy Capital Management Inc. increased its holdings in Intel by 18.4% in the 2nd quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock worth $1,070,000 after acquiring an additional 4,928 shares in the last quarter. Papp L Roy & Associates increased its holdings in Intel by 1.2% in the 2nd quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock worth $2,297,000 after acquiring an additional 800 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in Intel in the 2nd quarter worth $555,000. United Bank increased its holdings in Intel by 108.0% in the 2nd quarter. United Bank now owns 43,841 shares of the chip maker’s stock worth $1,479,000 after acquiring an additional 22,765 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Intel by 182.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock worth $530,000 after acquiring an additional 9,746 shares in the last quarter. 67.69% of the stock is owned by hedge funds and other institutional investors.
Intel Corporation (NASDAQ INTC) opened at $43.08 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.60 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $203,346.00, a P/E ratio of 13.66, a P/E/G ratio of 1.59 and a beta of 1.06. Intel Corporation has a fifty-two week low of $33.23 and a fifty-two week high of $47.30.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.21. The firm had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $15.73 billion. Intel had a return on equity of 22.65% and a net margin of 22.31%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. equities analysts anticipate that Intel Corporation will post 3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Monday, November 6th. Intel’s dividend payout ratio (DPR) is 38.11%.
Several brokerages recently commented on INTC. BidaskClub raised shares of Intel from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Sanford C. Bernstein set a $30.00 price target on shares of Intel and gave the stock a “sell” rating in a report on Tuesday, August 15th. Zacks Investment Research cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Rosenblatt Securities reaffirmed a “sell” rating on shares of Intel in a research note on Wednesday, August 23rd. Finally, Mizuho reaffirmed a “buy” rating and set a $45.00 target price (up previously from $42.00) on shares of Intel in a research note on Monday, October 9th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Intel currently has an average rating of “Buy” and a consensus target price of $43.68.
In related news, CEO Brian M. Krzanich sold 889,878 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.74, for a total value of $2,396,456.40. Following the completion of the transaction, the chief executive officer now directly owns 543,948 shares of the company’s stock, valued at $21,072,545.52. The disclosure for this sale can be found here. Insiders sold 1,548,914 shares of company stock valued at $68,196,589 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
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Intel 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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