Intel Corp. (INTC) Shares Sold by Inverness Counsel LLC NY
Inverness Counsel LLC NY reduced its stake in shares of Intel Corp. (NASDAQ:INTC) by 5.6% during the second quarter, Holdings Channel reports. The fund owned 21,771 shares of the chip maker’s stock after selling 1,290 shares during the period. Inverness Counsel LLC NY’s holdings in Intel Corp. were worth $714,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. James Investment Research Inc. boosted its position in shares of Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares during the last quarter. Park National Corp OH boosted its position in shares of Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Intel Corp. during the first quarter valued at about $132,302,000. Svenska Handelsbanken AB publ bought a new position in shares of Intel Corp. during the second quarter valued at about $44,489,000. Finally, Alpine Investment Management LLC boosted its position in shares of Intel Corp. by 5.6% in the first quarter. Alpine Investment Management LLC now owns 3,541,188 shares of the chip maker’s stock valued at $114,557,000 after buying an additional 188,067 shares during the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.27% during trading on Thursday, reaching $37.55. The company’s stock had a trading volume of 16,968,299 shares. The firm has a market cap of $177.65 billion, a PE ratio of 18.21 and a beta of 0.93. The company’s 50 day moving average price is $35.62 and its 200 day moving average price is $32.97. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. On average, equities analysts predict that Intel Corp. will post $2.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.77%. Intel Corp.’s dividend payout ratio is presently 50.24%.
A number of brokerages recently weighed in on INTC. Vetr cut shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price target for the company. in a research note on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a research note on Sunday, September 4th. Morgan Stanley reiterated an “underweight” rating and set a $31.00 price target on shares of Intel Corp. in a research note on Wednesday, September 14th. Robert W. Baird increased their price target on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $34.00 price target on shares of Intel Corp. in a research note on Monday. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have assigned a buy rating to the company. Intel Corp. presently has an average rating of “Buy” and an average price target of $39.06.
In other news, CFO Stacy J. Smith sold 29,497 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the completion of the transaction, the chief financial officer now owns 263,772 shares of the company’s stock, valued at approximately $9,092,220.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian M. Krzanich sold 71,413 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.73, for a total value of $2,337,347.49. Following the transaction, the chief executive officer now directly owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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