Intel Corporation (INTC) Holdings Lessened by Chemung Canal Trust Co.
Chemung Canal Trust Co. lessened its holdings in shares of Intel Corporation (NASDAQ:INTC) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,707 shares of the chip maker’s stock after selling 843 shares during the period. Chemung Canal Trust Co.’s holdings in Intel Corporation were worth $3,236,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in INTC. Orrstown Financial Services Inc. boosted its position in shares of Intel Corporation by 96.6% during the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Intel Corporation by 53.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares during the period. Vigilant Capital Management LLC boosted its position in shares of Intel Corporation by 22.6% during the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares during the period. Farmers National Bank boosted its position in shares of Intel Corporation by 5.1% during the first quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock valued at $183,000 after buying an additional 234 shares during the period. Finally, ARP Americas LLC purchased a new position in shares of Intel Corporation during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 67.09% of the company’s stock.
INTC has been the subject of several recent analyst reports. Zacks Investment Research lowered Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and set a $39.00 target price on shares of Intel Corporation in a research report on Friday, July 14th. Bank of America Corporation lowered Intel Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price on shares of Intel Corporation in a research report on Tuesday, July 4th. Finally, ValuEngine lowered Intel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Intel Corporation presently has a consensus rating of “Hold” and a consensus target price of $40.55.
Intel Corporation (NASDAQ:INTC) traded up 0.75% during mid-day trading on Wednesday, hitting $36.36. 6,981,647 shares of the stock traded hands. 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 $170.86 billion, a price-to-earnings ratio of 13.88 and a beta of 1.02. The firm’s 50-day moving average is $35.49 and its 200-day moving average is $35.51.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts expect that Intel Corporation will post $3.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 3rd. Intel Corporation’s dividend payout ratio is presently 41.76%.
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In related news, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’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 transaction of $496,438.12. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. In the last three months, insiders sold 91,921 shares of company stock valued at $3,130,162. Company insiders own 0.08% 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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