Elite Wealth Management Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Elite Wealth Management reduced its stake in Intel Corporation by 6.17% during the most recent quarter end. The investment management company now holds a total of 64,573 shares of Intel Corporation which is valued at $2,418,259 after selling 4,248 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Intel Corporation makes up approximately 3.54% of Elite Wealth Management’s portfolio.

Other Hedge Funds, Including , Vigilant Capital Management boosted its stake in INTC in the latest quarter, The investment management firm added 522 additional shares and now holds a total of 2,568 shares of Intel Corporation which is valued at $96,172. Intel Corporation makes up approx 0.02% of Vigilant Capital Management’s portfolio.Investment Management Of Virginia reduced its stake in INTC by selling 2,775 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 147,640 shares of INTC which is valued at $5,458,251. Intel Corporation makes up approx 1.38% of Investment Management Of Virginia’s portfolio.Marshwinds Advisory Co reduced its stake in INTC by selling 698 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 101,204 shares of INTC which is valued at $3,741,512. Intel Corporation makes up approx 1.87% of Marshwinds Advisory Co’s portfolio.Headinvest boosted its stake in INTC in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 9,816 shares of Intel Corporation which is valued at $373,204. Intel Corporation makes up approx 0.13% of Headinvest’s portfolio.

Intel Corporation opened for trading at $37.19 and hit $37.7 on the upside on Friday, eventually ending the session at $37.45, with a gain of 1.30% or 0.48 points. The heightened volatility saw the trading volume jump to 1,91,23,944 shares. Company has a market cap of $177,176 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 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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