Profit Investment Management LLC Has $378,000 Stake in Intel Corporation (NASDAQ:INTC)
Profit Investment Management LLC continued to hold its position in Intel Corporation (NASDAQ:INTC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the chip maker’s stock at the end of the second quarter. Profit Investment Management LLC’s holdings in Intel Corporation were worth $378,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Sigma Planning Corp increased its position in Intel Corporation by 0.5% in the first quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock worth $2,333,000 after buying an additional 335 shares in the last quarter. RB Capital Management LLC purchased a new position in Intel Corporation during the fourth quarter worth about $858,000. Assenagon Asset Management S.A. purchased a new position in Intel Corporation during the fourth quarter worth about $544,000. Wsfs Capital Management LLC purchased a new position in Intel Corporation during the fourth quarter worth about $280,000. Finally, Regentatlantic Capital LLC increased its position in Intel Corporation by 10.9% in the first quarter. Regentatlantic Capital LLC now owns 495,518 shares of the chip maker’s stock worth $17,873,000 after buying an additional 48,759 shares in the last quarter. 67.50% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corporation (NASDAQ:INTC) traded down 0.44% during trading on Friday, reaching $35.98. The company’s stock had a trading volume of 9,117,356 shares. The company has a market capitalization of $169.07 billion, a P/E ratio of 13.73 and a beta of 1.01. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The firm’s 50-day moving average price is $34.80 and its 200 day moving average price is $35.73.
Intel Corporation (NASDAQ:INTC) last posted its quarterly 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 business had revenue of $14.76 billion for the quarter, compared to the consensus estimate 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 business earned $0.59 EPS. On average, analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.2725 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 annualized dividend and a yield of 3.02%. Intel Corporation’s payout ratio is presently 41.76%.
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A number of equities analysts have issued reports on INTC shares. BidaskClub raised shares of Intel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Credit Suisse Group set a $35.00 price objective on shares of Intel Corporation and gave the stock a “hold” rating in a report on Saturday, July 29th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Intel Corporation in a report on Friday, July 14th. Jefferies Group LLC downgraded shares of Intel Corporation from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $29.00 to $28.00 in a report on Monday, July 10th. Finally, Wells Fargo & Company downgraded shares of Intel Corporation to a “market weight” rating in a report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.55.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now owns 1,536 shares in the company, valued at approximately $54,481.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares in the company, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,921 shares of company stock worth $3,130,162. Company insiders own 0.09% of the company’s stock.
About Intel Corporation
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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