High Point Bank Trust Co Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : High Point Bank Trust Co reduced its stake in Intel Corporation by 0.69% during the most recent quarter end. The investment management company now holds a total of 30,552 shares of Intel Corporation which is valued at $1,064,126 after selling 212 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Intel Corporation makes up approximately 0.29% of High Point Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Biondo Investment Advisors boosted its stake in INTC in the latest quarter, The investment management firm added 10,534 additional shares and now holds a total of 97,155 shares of Intel Corporation which is valued at $3,367,392. Intel Corporation makes up approx 1.15% of Biondo Investment Advisors’s portfolio.Sumitomo Life Insurance Co reduced its stake in INTC by selling 6,593 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 187,280 shares of INTC which is valued at $6,564,164. Intel Corporation makes up approx 0.87% of Sumitomo Life Insurance Co’s portfolio.Gofen Glossberg Il reduced its stake in INTC by selling 8,949 shares or 5.75% in the most recent quarter. The Hedge Fund company now holds 146,657 shares of INTC which is valued at $5,134,462. Intel Corporation makes up approx 0.21% of Gofen Glossberg Il’s portfolio.Abner Herrman Brock reduced its stake in INTC by selling 122 shares or 0.75% in the most recent quarter. The Hedge Fund company now holds 16,211 shares of INTC which is valued at $567,547. Intel Corporation makes up approx 0.13% of Abner Herrman Brock’s portfolio.

Intel Corporation opened for trading at $34.77 and hit $34.915 on the upside on Friday, eventually ending the session at $34.86, with a gain of 0.26% or 0.09 points. The heightened volatility saw the trading volume jump to 1,81,71,236 shares. Company has a market cap of $164,609 M.

On the company’s financial health, Intel Corporation reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $13533.00 million for the quarter, compared to analysts expectations of $13549.95 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Investors should note that on Jul 12, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 7, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Company shares were Reiterated by Mizuho on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .Company shares were Reiterated by MKM Partners on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .Company shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs) original design manufacturers (ODMs) and industrial and communications equipment manufacturers in the computing and communications industries. The Company’s platforms are used to deliver a range of computing experiences in notebooks 2 in 1 systems desktops servers tablets smartphones and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Company’s operating segments include the PC Client Group (PCCG) the Data Center Group (DCG) the Internet of Things Group (IOTG) the Mobile and Communications Group (MCG) the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group Netbook Group and New Devices Group.

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