Spinnaker Trust Decreases Holdings in Intel Corporation (INTC)
Spinnaker Trust trimmed its position in shares of Intel Corporation (NASDAQ:INTC) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,127 shares of the chip maker’s stock after selling 4,891 shares during the period. Spinnaker Trust’s holdings in Intel Corporation were worth $3,412,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in INTC. Johanson Financial Advisors Inc. acquired a new stake in shares of Intel Corporation in the first quarter valued at $962,000. Hengehold Capital Management LLC raised its stake in shares of Intel Corporation by 0.4% in the first quarter. Hengehold Capital Management LLC now owns 54,309 shares of the chip maker’s stock valued at $1,959,000 after acquiring an additional 239 shares in the last quarter. Sabal Trust CO raised its stake in shares of Intel Corporation by 11.6% in the first quarter. Sabal Trust CO now owns 612,978 shares of the chip maker’s stock valued at $22,110,000 after acquiring an additional 63,858 shares in the last quarter. Gemmer Asset Management LLC raised its stake in shares of Intel Corporation by 48.6% in the first quarter. Gemmer Asset Management LLC now owns 13,009 shares of the chip maker’s stock valued at $469,000 after acquiring an additional 4,254 shares in the last quarter. Finally, Anderson Hoagland & Co. acquired a new stake in shares of Intel Corporation in the first quarter valued at $587,000. Institutional investors own 67.02% of the company’s stock.
Several analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $46.00 price objective on shares of Intel Corporation in a research note on Friday, July 28th. Bank of America Corporation cut Intel Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $38.00 in a research note on Wednesday, June 21st. Summit Redstone reiterated a “hold” rating on shares of Intel Corporation in a research note on Saturday, July 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $34.00 price objective on shares of Intel Corporation in a research note on Sunday, July 30th. Finally, Hilliard Lyons assumed coverage on Intel Corporation in a research note on Wednesday, July 12th. They issued a “buy” rating and a $41.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation currently has a consensus rating of “Hold” and an average target price of $40.75.
Intel Corporation (NASDAQ INTC) opened at 39.67 on Friday. The firm has a 50-day moving average of $37.23 and a 200-day moving average of $35.94. Intel Corporation has a one year low of $33.23 and a one year high of $39.95. The firm has a market cap of $186.41 billion, a price-to-earnings ratio of 15.14 and a beta of 1.07.
Intel Corporation (NASDAQ:INTC) last announced 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 net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $0.59 EPS. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Intel Corporation will post $3.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.75%. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.
In related news, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $34.68, for a total value of $73,486.92. Following the transaction, the executive vice president now directly owns 108,471 shares in the company, valued at approximately $3,761,774.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total transaction of $56,791.35. Following the completion of the transaction, the executive vice president now owns 114,542 shares in the company, valued at $3,968,880.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,608 shares of company stock worth $3,095,110. 0.08% of the stock is currently owned by company insiders.
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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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