Intel Co. (INTC) Shares Sold by Hexavest Inc.
Hexavest Inc. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 22.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,881,061 shares of the chip maker’s stock after selling 556,927 shares during the quarter. Intel makes up about 1.2% of Hexavest Inc.’s portfolio, making the stock its 14th largest position. Hexavest Inc.’s holdings in Intel were worth $93,508,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Midwest Professional Planners LTD. increased its stake in shares of Intel by 10.7% in the first quarter. Midwest Professional Planners LTD. now owns 10,028 shares of the chip maker’s stock worth $522,000 after purchasing an additional 966 shares in the last quarter. Kingfisher Capital LLC increased its stake in shares of Intel by 9.6% in the first quarter. Kingfisher Capital LLC now owns 11,090 shares of the chip maker’s stock worth $578,000 after purchasing an additional 967 shares in the last quarter. Fiduciary Group LLC increased its stake in shares of Intel by 2.9% in the first quarter. Fiduciary Group LLC now owns 34,165 shares of the chip maker’s stock worth $1,779,000 after purchasing an additional 969 shares in the last quarter. WealthTrust Fairport LLC increased its stake in shares of Intel by 2.9% in the first quarter. WealthTrust Fairport LLC now owns 34,782 shares of the chip maker’s stock worth $1,811,000 after purchasing an additional 971 shares in the last quarter. Finally, Schnieders Capital Management LLC increased its stake in shares of Intel by 0.8% in the first quarter. Schnieders Capital Management LLC now owns 116,518 shares of the chip maker’s stock worth $6,069,000 after purchasing an additional 972 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.
INTC has been the subject of several recent research reports. KeyCorp reduced their target price on shares of Intel from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Wells Fargo & Co restated a “buy” rating and issued a $65.00 price objective on shares of Intel in a research report on Thursday, June 21st. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Intel in a research report on Friday, July 27th. Bank of America lowered shares of Intel from a “buy” rating to a “neutral” rating and cut their price objective for the company from $62.00 to $56.00 in a research report on Friday, July 27th. Finally, ValuEngine lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Intel presently has an average rating of “Hold” and an average target price of $55.63.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Intel had a net margin of 20.07% and a return on equity of 27.33%. The business had revenue of $16.96 billion during the quarter, compared to analyst estimates of $16.78 billion. During the same period in the previous year, the business posted $0.72 earnings per share. Intel’s revenue for the quarter was up 14.9% on a year-over-year basis. equities research analysts predict that Intel Co. will post 4.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 6th. This represents a $1.20 annualized dividend and a yield of 2.58%. Intel’s payout ratio is presently 34.68%.
In other news, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the sale, the executive vice president now directly owns 40,903 shares in the company, valued at approximately $1,950,664.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $52.43, for a total transaction of $116,027.59. Following the completion of the sale, the executive vice president now owns 23,268 shares of the company’s stock, valued at $1,219,941.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,077 shares of company stock valued at $205,757. 0.03% of the stock is currently owned by company insiders.
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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