Intel Corporation (NASDAQ:INTC) Stake Raised by Private Advisor Group LLC
Private Advisor Group LLC raised its position in Intel Corporation (NASDAQ:INTC) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,562 shares of the chip maker’s stock after buying an additional 3,551 shares during the period. Private Advisor Group LLC’s holdings in Intel Corporation were worth $17,183,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Intel Corporation during the fourth quarter worth approximately $1,684,790,000. DnB Asset Management AS raised its position in Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock worth $195,986,000 after buying an additional 4,713,168 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock worth $300,238,000 after buying an additional 882,905 shares in the last quarter. State of Tennessee Treasury Department raised its position in Intel Corporation by 37.5% in the first quarter. State of Tennessee Treasury Department now owns 2,530,448 shares of the chip maker’s stock worth $91,274,000 after buying an additional 689,752 shares in the last quarter. Finally, Origin Asset Management LLP acquired a new position in Intel Corporation during the fourth quarter worth approximately $22,306,000. 67.50% of the stock is currently owned by institutional investors.
Intel Corporation (NASDAQ:INTC) opened at 36.30 on Monday. The company has a market cap of $170.57 billion, a price-to-earnings ratio of 13.85 and a beta of 1.01. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm’s 50-day moving average price is $34.56 and its 200-day moving average price is $35.72.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Intel Corporation’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be issued a dividend of $0.2725 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.00%. Intel Corporation’s payout ratio is 41.76%.
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A number of equities analysts have commented on INTC shares. Zacks Investment Research lowered Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Intel Corporation in a research note on Wednesday, July 12th. Bank of America Corporation lowered Intel Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $38.00 in a research note on Wednesday, June 21st. BidaskClub lowered Intel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $39.43 price objective on the stock. in a research note on Monday, May 22nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-six have given a buy rating to the stock. Intel Corporation presently has an average rating of “Hold” and an average target price of $40.56.
In other Intel Corporation news, CFO Robert Holmes Swan bought 13,888 shares of the stock in a transaction on Monday, June 5th. The shares were acquired at an average price of $36.31 per share, with a total value of $504,273.28. Following the acquisition, the chief financial officer now directly owns 8,774 shares of the company’s stock, valued at approximately $318,583.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $54,481.92. The disclosure for this sale can be found here. Insiders have sold a total of 90,497 shares of company stock worth $3,078,329 in the last three months. Insiders own 0.09% of the company’s stock.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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