Kessler Investment Group LLC Purchases 6,724 Shares of Intel Corporation (INTC)
Kessler Investment Group LLC boosted its position in shares of Intel Corporation (NASDAQ:INTC) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 88,454 shares of the chip maker’s stock after buying an additional 6,724 shares during the period. Intel Corporation makes up about 3.8% of Kessler Investment Group LLC’s investment portfolio, making the stock its 13th largest position. Kessler Investment Group LLC’s holdings in Intel Corporation were worth $2,984,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Intel Corporation during the fourth quarter worth about $1,684,790,000. Glenview Capital Management LLC purchased a new stake in Intel Corporation during the first quarter worth about $177,881,000. DnB Asset Management AS increased its stake 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. Gotham Asset Management LLC increased its stake in Intel Corporation by 112.1% in the first quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock worth $62,804,000 after buying an additional 920,285 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its stake 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. Institutional investors and hedge funds own 67.50% of the company’s stock.
Shares of Intel Corporation (NASDAQ:INTC) traded down 0.75% during midday trading on Friday, hitting $35.87. The company had a trading volume of 19,275,060 shares. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The company has a 50-day moving average of $34.84 and a 200 day moving average of $35.72. The firm has a market capitalization of $168.55 billion, a PE ratio of 13.69 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the firm posted $0.59 EPS. Intel Corporation’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts expect that Intel Corporation will post $3.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a dividend of $0.2725 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 annualized dividend and a yield of 3.04%. Intel Corporation’s payout ratio is 41.76%.
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INTC has been the subject of a number of recent research reports. Zacks Investment Research downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Intel Corporation in a research note on Wednesday, July 12th. Bank of America Corporation downgraded Intel Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a research note on Wednesday, June 21st. BidaskClub downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Canaccord Genuity restated a “buy” rating and set a $38.00 price target on shares of Intel Corporation in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $40.55.
In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 over the last three months. 0.09% of the stock is currently owned by insiders.
Intel Corporation Company Profile
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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