Douglas Lane & Associates LLC Acquires 69,391 Shares of Intel Corporation (INTC)
Douglas Lane & Associates LLC raised its stake in Intel Corporation (NASDAQ:INTC) by 7.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,006,223 shares of the chip maker’s stock after buying an additional 69,391 shares during the period. Douglas Lane & Associates LLC’s holdings in Intel Corporation were worth $33,950,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Sigma Planning Corp raised its stake in Intel Corporation by 0.5% in the first quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock valued at $2,333,000 after buying an additional 335 shares in the last quarter. RB Capital Management LLC acquired a new stake in Intel Corporation during the fourth quarter valued at approximately $858,000. Assenagon Asset Management S.A. acquired a new stake in Intel Corporation during the fourth quarter valued at approximately $544,000. Wsfs Capital Management LLC acquired a new stake in Intel Corporation during the fourth quarter valued at approximately $280,000. Finally, Regentatlantic Capital LLC raised its stake in Intel Corporation by 10.9% in the first quarter. Regentatlantic Capital LLC now owns 495,518 shares of the chip maker’s stock valued at $17,873,000 after buying an additional 48,759 shares in the last quarter. Institutional investors and hedge funds own 67.50% of the company’s stock.
Intel Corporation (NASDAQ:INTC) traded down 0.75% during mid-day trading on Friday, reaching $35.87. 19,275,060 shares of the company were exchanged. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The company has a market cap of $168.55 billion, a P/E ratio of 13.69 and a beta of 1.01. The stock’s 50-day moving average is $34.84 and its 200-day moving average is $35.72.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Intel Corporation will post $3.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
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Several equities research analysts recently commented on INTC shares. Credit Suisse Group set a $35.00 price objective on shares of Intel Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. BidaskClub upgraded shares of Intel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Macquarie reiterated an “outperform” rating and issued a $40.00 price objective on shares of Intel Corporation in a research report on Friday, July 14th. Jefferies Group LLC lowered shares of Intel Corporation from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $29.00 to $28.00 in a research report on Monday, July 10th. Finally, Wells Fargo & Company lowered shares of Intel Corporation to a “market weight” rating in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $40.55.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the transaction, 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 hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the transaction, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. 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 ninety days. Company insiders own 0.09% of the company’s stock.
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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