Cim Investment Mangement Inc. raised its position in shares of Intel Co. (NASDAQ:INTC) by 63.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,692 shares of the chip maker’s stock after purchasing an additional 12,282 shares during the quarter. Intel accounts for 0.5% of Cim Investment Mangement Inc.’s portfolio, making the stock its 22nd largest position. Cim Investment Mangement Inc.’s holdings in Intel were worth $1,575,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of INTC. Elmwood Wealth Management Inc. acquired a new position in shares of Intel in the 1st quarter valued at about $110,000. Quad Cities Investment Group LLC acquired a new position in shares of Intel in the 2nd quarter valued at about $107,000. Financial Gravity Wealth Inc. acquired a new position in shares of Intel in the 1st quarter valued at about $120,000. WP Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at about $137,000. Finally, Well Done LLC acquired a new position in shares of Intel in the 1st quarter valued at about $156,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the sale, the executive vice president now owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,747 shares of company stock valued at $398,552. 0.03% of the stock is owned by company insiders.
NASDAQ:INTC opened at $48.11 on Friday. Intel Co. has a 12 month low of $42.04 and a 12 month high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The company has a market cap of $221.05 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.24 and a beta of 0.88.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The company had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Equities research analysts forecast that Intel Co. will post 4.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.49%. Intel’s dividend payout ratio (DPR) is currently 34.68%.
INTC has been the subject of several analyst reports. Morningstar set a $65.00 price objective on Intel and gave the company a “buy” rating in a report on Monday, October 1st. Morgan Stanley cut Intel from an “equal” rating to a “weight” rating in a report on Monday, October 1st. BidaskClub cut Intel from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Nomura reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Friday, August 10th. Finally, Macquarie set a $60.00 price objective on Intel and gave the company a “buy” rating in a report on Sunday, September 30th. Six investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.27.
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Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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