First Midwest Bank Trust Division Grows Position in Intel Corporation (INTC)
First Midwest Bank Trust Division lifted its stake in Intel Corporation (NASDAQ:INTC) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,123 shares of the chip maker’s stock after buying an additional 3,304 shares during the period. Intel Corporation comprises 0.7% of First Midwest Bank Trust Division’s portfolio, making the stock its 21st biggest holding. First Midwest Bank Trust Division’s holdings in Intel Corporation were worth $5,909,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Intel Corporation by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 23,861,041 shares of the chip maker’s stock worth $860,668,000 after purchasing an additional 764,551 shares in the last quarter. Fisher Asset Management LLC raised its position in Intel Corporation by 3.1% in the second quarter. Fisher Asset Management LLC now owns 20,791,355 shares of the chip maker’s stock worth $701,500,000 after purchasing an additional 623,698 shares in the last quarter. Sanders Capital LLC raised its position in Intel Corporation by 2.2% in the first quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock worth $545,383,000 after purchasing an additional 316,800 shares in the last quarter. DnB Asset Management AS raised its position in Intel Corporation by 72.2% in the second quarter. DnB Asset Management AS now owns 9,355,948 shares of the chip maker’s stock worth $315,670,000 after purchasing an additional 3,922,470 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Intel Corporation by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 9,075,156 shares of the chip maker’s stock worth $327,403,000 after purchasing an additional 68,534 shares in the last quarter. Institutional investors and hedge funds own 67.03% of the company’s stock.
Several research analysts recently issued reports on INTC shares. Vetr lowered shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $39.43 price target for the company. in a research report on Monday, May 22nd. Canaccord Genuity reaffirmed a “hold” rating on shares of Intel Corporation in a report on Saturday, June 3rd. Jefferies Group LLC set a $38.00 price objective on shares of Intel Corporation and gave the stock a “hold” rating in a report on Saturday, June 3rd. Zacks Investment Research lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of Intel Corporation in a report on Friday, June 16th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.60.
Shares of Intel Corporation (INTC) traded up 0.65% during midday trading on Monday, reaching $37.24. 8,520,375 shares of the company’s stock were exchanged. The company’s 50-day moving average is $35.64 and its 200-day moving average is $35.52. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The stock has a market cap of $174.99 billion, a P/E ratio of 14.21 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last issued its quarterly 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 business earned $0.59 earnings per share. The firm’s revenue for the quarter 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 fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is currently 41.76%.
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In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the transaction, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders have sold 91,921 shares of company stock worth $3,130,162 in the last three months. 0.08% of the stock is currently owned by corporate 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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