Intel Corporation (INTC) Holdings Cut by Heritage Investors Management Corp
Heritage Investors Management Corp lowered its stake in shares of Intel Corporation (NASDAQ:INTC) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 694,126 shares of the chip maker’s stock after selling 7,993 shares during the quarter. Intel Corporation comprises 1.6% of Heritage Investors Management Corp’s portfolio, making the stock its 9th largest holding. Heritage Investors Management Corp’s holdings in Intel Corporation were worth $23,420,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in INTC. Glenview Capital Management LLC bought a new stake in Intel Corporation during the first quarter worth approximately $177,881,000. DnB Asset Management AS boosted its position in Intel Corporation by 654.3% during the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock worth $195,986,000 after purchasing an additional 4,713,168 shares during the period. Gotham Asset Management LLC boosted its position in Intel Corporation by 112.1% during the first quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock worth $62,804,000 after purchasing an additional 920,285 shares during the period. Pictet Asset Management Ltd. boosted its position in Intel Corporation by 11.9% during the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock worth $300,238,000 after purchasing an additional 882,905 shares during the period. Finally, WINTON GROUP Ltd boosted its position in Intel Corporation by 87.0% during the first quarter. WINTON GROUP Ltd now owns 1,856,380 shares of the chip maker’s stock worth $70,078,000 after purchasing an additional 863,659 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on INTC. Zacks Investment Research raised Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, September 6th. ValuEngine cut Intel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Vetr raised Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective for the company in a research report on Thursday, August 24th. Credit Suisse Group reissued an “outperform” rating on shares of Intel Corporation in a research report on Thursday, August 31st. Finally, BidaskClub raised Intel Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.57.
In other Intel Corporation news, EVP Diane M. Bryant sold 1,639 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total value of $56,791.35. Following the transaction, the executive vice president now owns 114,542 shares in the company, valued at $3,968,880.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the 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 completion of the transaction, the chief executive officer now owns 534,746 shares in the company, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock worth $3,130,162. Corporate insiders own 0.08% of the company’s stock.
Intel Corporation (NASDAQ INTC) traded down 0.05% on Friday, hitting $37.18. The company’s stock had a trading volume of 21,631,754 shares. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The stock has a market cap of $174.71 billion, a PE ratio of 14.19 and a beta of 1.02. The firm has a 50 day moving average of $35.74 and a 200-day moving average of $35.53.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, analysts expect that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a yield of 2.93%. Intel Corporation’s payout ratio is currently 41.76%.
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Intel Corporation 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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