Adell Harriman & Carpenter Inc. boosted its position in shares of Intel Corp. (NASDAQ:INTC) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 179,830 shares of the chip maker’s stock after buying an additional 8,618 shares during the period. Intel Corp. comprises approximately 1.5% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 24th largest position. Adell Harriman & Carpenter Inc.’s holdings in Intel Corp. were worth $5,898,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Point View Wealth Management Inc. raised its stake in Intel Corp. by 2.1% in the second quarter. Point View Wealth Management Inc. now owns 39,574 shares of the chip maker’s stock worth $1,298,000 after buying an additional 807 shares during the period. RidgeWorth Capital Management LLC raised its stake in Intel Corp. by 30.5% in the second quarter. RidgeWorth Capital Management LLC now owns 2,384,479 shares of the chip maker’s stock worth $78,092,000 after buying an additional 557,787 shares during the period. Northstar Investment Advisors LLC raised its stake in Intel Corp. by 2.5% in the second quarter. Northstar Investment Advisors LLC now owns 304,292 shares of the chip maker’s stock worth $9,981,000 after buying an additional 7,359 shares during the period. Glenmede Trust Co. NA raised its stake in Intel Corp. by 1.8% in the second quarter. Glenmede Trust Co. NA now owns 3,743,762 shares of the chip maker’s stock worth $122,794,000 after buying an additional 65,239 shares during the period. Finally, Bangor Savings Bank raised its stake in Intel Corp. by 5.3% in the second quarter. Bangor Savings Bank now owns 19,805 shares of the chip maker’s stock worth $650,000 after buying an additional 990 shares during the period. 64.77% of the stock is owned by institutional investors.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.26% during trading on Monday, hitting $37.65. The stock had a trading volume of 7,781,688 shares. The stock’s 50-day moving average price is $36.13 and its 200 day moving average price is $33.27. The firm has a market capitalization of $178.12 billion, a P/E ratio of 18.26 and a beta of 1.09. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. On average, analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.75%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
A number of analysts have recently issued reports on the stock. Citigroup Inc. reissued a “neutral” rating and issued a $35.00 price target (up from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Intel Corp. in a report on Thursday, July 21st. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the stock a “neutral” rating in a report on Friday, July 22nd. Argus restated a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a report on Monday, July 25th. Finally, Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $33.56 price objective on the stock. in a report on Tuesday, August 16th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $39.46.
In other news, CFO Stacy J. Smith sold 29,497 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the transaction, the chief financial officer now directly owns 263,772 shares of the company’s stock, valued at approximately $9,092,220.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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