Harfst & Associates Inc. acquired a new stake in Intel Corp. (NASDAQ:INTC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 58,778 shares of the chip maker’s stock, valued at approximately $1,927,000.
Several other hedge funds also recently made changes to their positions in the company. Gierl Augustine Investment Management Inc boosted its position in shares of Intel Corp. by 8.4% in the first quarter. Gierl Augustine Investment Management Inc now owns 86,004 shares of the chip maker’s stock worth $2,782,000 after buying an additional 6,685 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Intel Corp. by 11.3% in the first quarter. Capital Investment Advisors LLC now owns 253,712 shares of the chip maker’s stock valued at $8,208,000 after buying an additional 25,776 shares during the period. Culbertson A N & Co. Inc. bought a new position in shares of Intel Corp. during the first quarter valued at $5,176,000. Mission Wealth Management LLC boosted its position in shares of Intel Corp. by 0.5% in the first quarter. Mission Wealth Management LLC now owns 26,003 shares of the chip maker’s stock valued at $841,000 after buying an additional 133 shares during the period. Finally, Iberiabank Corp boosted its position in shares of Intel Corp. by 12.2% in the first quarter. Iberiabank Corp now owns 127,479 shares of the chip maker’s stock valued at $4,124,000 after buying an additional 13,902 shares during the period. 64.77% of the stock is owned by institutional investors.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.29% during trading on Thursday, hitting $37.88. The stock had a trading volume of 7,697,603 shares. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.31. The stock’s 50-day moving average is $36.38 and its 200-day moving average is $33.40. The stock has a market cap of $179.21 billion, a price-to-earnings ratio of 18.37 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period last year, the firm earned $0.55 earnings per share. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Intel Corp. will post $2.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.
Several equities analysts have weighed in on INTC shares. B. Riley restated a “buy” rating and set a $42.00 price objective on shares of Intel Corp. in a research note on Wednesday, August 17th. Robert W. Baird raised their price objective on Intel Corp. from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Brean Capital restated a “buy” rating and set a $40.00 price objective (up from $38.00) on shares of Intel Corp. in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Monday, September 26th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $35.00 target price on shares of Intel Corp. in a research note on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. Intel Corp. presently has a consensus rating of “Buy” and a consensus price target of $39.59.
In other Intel Corp. news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was 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 approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
About Intel Corp.
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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