Cedar Wealth Management Exits Position in Intel Corporation (INTC)

Intel Corporation (INTC) : Cedar Wealth Management has sold out all of its stake in Intel Corporation during the most recent quarter, according to the disclosure filed by the company on Nov 1, 2016 with the SEC. The investment management company has sold out 41 shares of Intel Corporation which is valued at $1,419.

Other Hedge Funds, Including , Glenview State Bank Trust Dept. boosted its stake in INTC in the latest quarter, The investment management firm added 3,425 additional shares and now holds a total of 137,673 shares of Intel Corporation which is valued at $4,763,486. Intel Corporation makes up approx 2.76% of Glenview State Bank Trust Dept.’s portfolio.Taylor Cottrill Erickson Associates reduced its stake in INTC by selling 425 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 86,153 shares of INTC which is valued at $3,023,970. Intel Corporation makes up approx 0.86% of Taylor Cottrill Erickson Associates’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in INTC in the latest quarter, The investment management firm added 27,314 additional shares and now holds a total of 1,118,285 shares of Intel Corporation which is valued at $41,879,773. Intel Corporation makes up approx 0.93% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Hexavest reduced its stake in INTC by selling 4,723 shares or 30.25% in the most recent quarter. The Hedge Fund company now holds 10,890 shares of INTC which is valued at $405,870. Intel Corporation makes up approx 0.01% of Hexavest’s portfolio.

Intel Corporation opened for trading at $34.6 and hit $34.9 on the upside on Wednesday, eventually ending the session at $34.6, with a gain of 0.23% or 0.08 points. The heightened volatility saw the trading volume jump to 2,14,16,408 shares. Company has a market cap of $163,969 M.

On the company’s financial health, Intel Corporation reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.72. The company had revenue of $15778.00 million for the quarter, compared to analysts expectations of $15605.45 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Intel Corporation. Shares were Reiterated by RBC Capital Mkts on Oct 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 37 from a previous price target of $38 .Shares were Reiterated by Needham on Oct 19, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $43 .Intel Corporation was Upgraded by Charter Equity to ” Buy” on Oct 19, 2016.

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.