Intel Corp. (INTC) Stake Decreased by Payden & Rygel
Payden & Rygel decreased its stake in Intel Corp. (NASDAQ:INTC) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 508,320 shares of the chip maker’s stock after selling 2,300 shares during the period. Intel Corp. accounts for approximately 1.9% of Payden & Rygel’s portfolio, making the stock its 22nd largest position. Payden & Rygel’s holdings in Intel Corp. were worth $16,673,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of INTC. D. Scott Neal Inc. boosted its stake in Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock worth $163,000 after buying an additional 35 shares during the period. Hudock Capital Group LLC boosted its stake in Intel Corp. by 0.4% in the second quarter. Hudock Capital Group LLC now owns 14,694 shares of the chip maker’s stock worth $481,000 after buying an additional 62 shares during the period. Accredited Investors Inc. boosted its stake in Intel Corp. by 0.4% in the first quarter. Accredited Investors Inc. now owns 20,443 shares of the chip maker’s stock worth $661,000 after buying an additional 73 shares during the period. Fruth Investment Management boosted its stake in Intel Corp. by 0.6% in the second quarter. Fruth Investment Management now owns 13,489 shares of the chip maker’s stock worth $442,000 after buying an additional 75 shares during the period. Finally, Prentiss Smith & Co. Inc. boosted its stake in Intel Corp. by 0.4% in the second quarter. Prentiss Smith & Co. Inc. now owns 17,730 shares of the chip maker’s stock worth $582,000 after buying an additional 75 shares during the period. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.75% during trading on Wednesday, hitting $36.99. 4,948,218 shares of the company’s stock were exchanged. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The company has a 50-day moving average of $36.69 and a 200-day moving average of $33.56. The company has a market cap of $175.00 billion, a P/E ratio of 17.94 and a beta of 1.09.
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 consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
A number of research firms recently commented on INTC. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. B. Riley reaffirmed a “buy” rating and issued a $42.00 price target on shares of Intel Corp. in a report on Thursday, July 21st. Robert W. Baird lifted their price target on shares of Intel Corp. from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, September 6th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $31.00) on shares of Intel Corp. in a report on Thursday, June 30th. Finally, Cowen and Company lifted their price target on shares of Intel Corp. from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, September 16th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $39.66.
In related news, Chairman Andy D. Bryant sold 445,095 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the transaction, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the completion of the transaction, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate 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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