Intel Corporation (INTC) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lessened its stake in Intel Corporation (NASDAQ:INTC) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,104 shares of the chip maker’s stock after selling 2,070 shares during the period. Connecticut Wealth Management LLC’s holdings in Intel Corporation were worth $475,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC raised its position in Intel Corporation by 11.8% in the 2nd quarter. Kovitz Investment Group Partners LLC now owns 19,637 shares of the chip maker’s stock worth $663,000 after purchasing an additional 2,073 shares during the last quarter. Sonata Capital Group Inc. raised its position in Intel Corporation by 0.9% in the 2nd quarter. Sonata Capital Group Inc. now owns 11,846 shares of the chip maker’s stock worth $400,000 after purchasing an additional 100 shares during the last quarter. Mengis Capital Management Inc. raised its position in Intel Corporation by 2.6% in the 2nd quarter. Mengis Capital Management Inc. now owns 38,067 shares of the chip maker’s stock worth $1,284,000 after purchasing an additional 962 shares during the last quarter. Summit Financial Group Inc. bought a new position in Intel Corporation in the 2nd quarter worth approximately $1,368,000. Finally, Global X Management Co. LLC raised its position in Intel Corporation by 17.9% in the 2nd quarter. Global X Management Co. LLC now owns 57,438 shares of the chip maker’s stock worth $1,938,000 after purchasing an additional 8,725 shares during the last quarter. Hedge funds and other institutional investors own 67.07% of the company’s stock.

In other Intel Corporation news, Chairman Andy D. Bryant sold 89,087 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $44.80, for a total value of $3,991,097.60. Following the completion of the transaction, the chairman now owns 428,789 shares of the company’s stock, valued at approximately $19,209,747.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David B. Yoffie sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.93, for a total transaction of $1,347,900.00. Following the completion of the transaction, the director now directly owns 50,005 shares of the company’s stock, valued at approximately $2,246,724.65. The disclosure for this sale can be found here. In the last three months, insiders sold 659,036 shares of company stock valued at $28,858,170. Corporate insiders own 0.08% of the company’s stock.

INTC has been the subject of several research analyst reports. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and issued a $39.00 price objective on shares of Intel Corporation in a research report on Friday, July 14th. ValuEngine cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Raymond James Financial, Inc. restated an “underperform” rating on shares of Intel Corporation in a research report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) restated a “hold” rating and issued a $39.00 price objective on shares of Intel Corporation in a research report on Monday, July 31st. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.00.

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Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $15.73 billion. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. Intel Corporation’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a $0.2725 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a yield of 2.40%. Intel Corporation’s dividend payout ratio is presently 38.11%.

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

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