Argent Capital Management LLC Lowers Stake in Intel Corporation (NASDAQ:INTC)

Argent Capital Management LLC decreased its stake in shares of Intel Corporation (NASDAQ:INTC) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 470,919 shares of the chip maker’s stock after selling 3,252 shares during the period. Argent Capital Management LLC’s holdings in Intel Corporation were worth $16,986,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. increased its stake in 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 last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares in the last quarter. Vigilant Capital Management LLC increased its position in Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares in the last quarter. Security Asset Management bought a new position in Intel Corporation during the fourth quarter valued at $162,000. Finally, ARP Americas LLC bought a new position in Intel Corporation during the first quarter valued at $202,000. 67.31% of the stock is currently owned by institutional investors.

Intel Corporation (NASDAQ INTC) opened at 35.01 on Friday. The firm has a market cap of $164.51 billion, a price-to-earnings ratio of 13.36 and a beta of 1.01. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The company’s 50 day moving average is $35.09 and its 200-day moving average is $35.65.

Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the business earned $0.59 earnings per share. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Intel Corporation will post $3.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.

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Several equities analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Intel Corporation in a research report on Wednesday, May 3rd. Vetr downgraded Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 target price on the stock. in a research report on Tuesday, August 8th. BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $38.00 target price on Intel Corporation and gave the stock a “hold” rating in a report on Saturday, June 3rd. Finally, Sanford C. Bernstein set a $30.00 target price on Intel Corporation and gave the stock a “sell” rating in a report on Tuesday. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.55.

In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the transaction, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,921 shares of company stock valued at $3,130,162. 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).

Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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