Intel Corp. (INTC) Stake Cut by Proffitt & Goodson Inc.
Proffitt & Goodson Inc. lowered its stake in Intel Corp. (NASDAQ:INTC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,350 shares of the chip maker’s stock after selling 370 shares during the period. Intel Corp. makes up approximately 0.7% of Proffitt & Goodson Inc.’s portfolio, making the stock its 29th largest position. Proffitt & Goodson Inc.’s holdings in Intel Corp. were worth $1,192,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. James Investment Research Inc. increased its position in Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock worth $21,708,000 after buying an additional 75,124 shares during the period. Park National Corp OH increased its position in Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock worth $26,689,000 after buying an additional 21,481 shares during the period. Nisa Investment Advisors LLC increased its position in Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock worth $58,917,000 after buying an additional 89,568 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Intel Corp. during the first quarter worth $132,302,000. Finally, Svenska Handelsbanken AB publ acquired a new position in Intel Corp. during the second quarter worth $44,489,000. 64.77% of the stock is owned by institutional investors.
Intel Corp. (NASDAQ:INTC) traded down 0.21% during trading on Monday, hitting $38.02. The stock had a trading volume of 14,954,297 shares. The stock’s 50-day moving average is $36.63 and its 200-day moving average is $33.54. The stock has a market capitalization of $179.87 billion, a PE ratio of 18.44 and a beta of 1.09. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. On average, analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
A number of research analysts recently weighed in on the stock. Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 target price (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 target price on shares of Intel Corp. and gave the company a “neutral” rating in a research report on Friday, July 22nd. Argus reiterated a “buy” rating and issued a $41.00 price target on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Vetr cut shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $33.56 price target for the company. in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $39.65.
In other Intel Corp. news, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the transaction, the chief executive officer now directly owns 420,506 shares in the company, valued at approximately $15,857,281.26. 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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