Independence Trust Co Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Independence Trust Co reduced its stake in Intel Corporation by 13.97% during the most recent quarter end. The investment management company now holds a total of 86,205 shares of Intel Corporation which is valued at $2,727,526 after selling 13,994 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Intel Corporation makes up approximately 4.29% of Independence Trust Co’s portfolio.

Intel Corporation closed down -0.33 points or -1.03% at $31.64 with 2,96,25,641 shares getting traded on Friday. Post opening the session at $31.74, the shares hit an intraday low of $31.22 and an intraday high of $31.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Btim Corp. reduced its stake in INTC by selling 38,550 shares or 21.08% in the most recent quarter. The Hedge Fund company now holds 144,363 shares of INTC which is valued at $4,567,645. Intel Corporation makes up approx 0.08% of Btim Corp.’s portfolio. Maple Securities Usa Inc sold out all of its stake in INTC during the most recent quarter. The investment firm sold 37,409 shares of INTC which is valued $1,176,887.Charter Trust Co reduced its stake in INTC by selling 6,286 shares or 3.11% in the most recent quarter. The Hedge Fund company now holds 195,761 shares of INTC which is valued at $6,199,751. Intel Corporation makes up approx 0.76% of Charter Trust Co’s portfolio.Private Asset Management Inc reduced its stake in INTC by selling 3,929 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 450,135 shares of INTC which is valued at $14,255,775. Intel Corporation makes up approx 2.60% of Private Asset Management Inc’s portfolio.

On the company’s financial health, Intel Corporation reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.48. The company had revenue of $13801.00 million for the quarter, compared to analysts expectations of $13826.41 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Investors should note that on Mar 17, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced May 5, 2016 as the ex-dividend date and fixed the record date on May 7, 2016. The payable date has been fixed on Jun 1, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Intel Corporation was Downgraded by Northland Capital to ” Market Perform” on Apr 20, 2016. Company shares were Reiterated by Jefferies on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 42 from a previous price target of $39 .Shares were Reiterated by Cowen on Apr 20, 2016 to “Market Perform” and Lowered the Price Target to $ 32 from a previous price target of $33 .

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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