Cullinan Associates Inc Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Cullinan Associates Inc reduced its stake in Intel Corporation by 8.33% during the most recent quarter end. The investment management company now holds a total of 297,923 shares of Intel Corporation which is valued at $11,318,095 after selling 27,083 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Intel Corporation makes up approximately 0.97% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management reduced its stake in INTC by selling 11,000 shares or 11.84% in the most recent quarter. The Hedge Fund company now holds 81,900 shares of INTC which is valued at $3,111,381. Intel Corporation makes up approx 0.32% of Cacti Asset Management’s portfolio.

Intel Corporation closed down -0.12 points or -0.32% at $37.54 with 1,43,93,109 shares getting traded on Tuesday. Post opening the session at $37.77, the shares hit an intraday low of $37.33 and an intraday high of $37.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Sep 15, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced Nov 3, 2016 as the ex-dividend date and fixed the record date on Nov 7, 2016. The payable date has been fixed on Dec 1, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Intel Corporation was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Company shares were Reiterated by Canaccord Genuity on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Company shares were Reiterated by Needham on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $38 .

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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