Stelliam Investment Management LP Sells 435,000 Shares of Intel Corporation (INTC)

Stelliam Investment Management LP cut its stake in Intel Corporation (NASDAQ:INTC) by 20.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,682,500 shares of the chip maker’s stock after selling 435,000 shares during the period. Intel Corporation makes up 2.3% of Stelliam Investment Management LP’s investment portfolio, making the stock its 15th largest position. Stelliam Investment Management LP’s holdings in Intel Corporation were worth $60,688,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTC. Norges Bank acquired a new position in shares of Intel Corporation during the fourth quarter valued at $1,684,790,000. DnB Asset Management AS boosted its position in shares of Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after buying an additional 4,713,168 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock valued at $300,238,000 after buying an additional 882,905 shares during the period. WINTON GROUP Ltd boosted its position in shares of Intel Corporation by 87.0% in the first quarter. WINTON GROUP Ltd now owns 1,856,380 shares of the chip maker’s stock valued at $70,078,000 after buying an additional 863,659 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Intel Corporation by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 23,861,041 shares of the chip maker’s stock valued at $860,668,000 after buying an additional 764,551 shares during the period. Hedge funds and other institutional investors own 67.50% of the company’s stock.

Shares of Intel Corporation (NASDAQ INTC) traded down 0.41% during mid-day trading on Thursday, reaching $36.44. The company’s stock had a trading volume of 4,482,423 shares. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm has a market capitalization of $171.23 billion, a P/E ratio of 13.91 and a beta of 1.01. The company’s 50-day moving average is $34.75 and its 200 day moving average is $35.72.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.98%. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.

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Several equities analysts have recently weighed in on INTC shares. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Intel Corporation in a research note on Wednesday, July 12th. Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $38.00 in a research note on Wednesday, June 21st. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price objective on shares of Intel Corporation in a research note on Wednesday, July 12th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Intel Corporation currently has a consensus rating of “Hold” and a consensus target price of $40.55.

In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at $55,910.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction 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 directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,921 shares of company stock valued at $3,130,162. 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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Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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