QCI Asset Management Inc. NY boosted its position in shares of Intel Corp. (NASDAQ:INTC) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 422,506 shares of the chip maker’s stock after buying an additional 10,951 shares during the period. Intel Corp. accounts for approximately 2.0% of QCI Asset Management Inc. NY’s holdings, making the stock its 19th largest position. QCI Asset Management Inc. NY’s holdings in Intel Corp. were worth $13,858,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in shares of Intel Corp. during the second quarter worth approximately $295,226,000. Institutional Capital LLC boosted its stake in shares of Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Intel Corp. during the first quarter worth approximately $132,302,000. Natixis boosted its stake in shares of Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock worth $97,244,000 after buying an additional 2,816,554 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares in the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded down 0.1727% during trading on Thursday, hitting $37.9244. 8,016,423 shares of the stock traded hands. The company has a market capitalization of $179.42 billion, a P/E ratio of 18.3920 and a beta of 1.09. Intel Corp. has a one year low of $27.68 and a one year high of $38.31. The company’s 50 day moving average is $36.38 and its 200 day moving average is $33.40.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Intel Corp. will post $2.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. Intel Corp.’s payout ratio is 50.24%.
A number of analysts have commented on INTC shares. Cowen and Company reiterated a “market perform” rating and issued a $36.00 price target (up previously from $32.00) on shares of Intel Corp. in a research note on Monday, July 11th. Evercore ISI upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, September 6th. Vetr upgraded shares of Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 target price for the company in a research note on Monday, September 26th. Royal Bank Of Canada lifted their price objective on Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 8th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $36.00 target price on shares of Intel Corp. in a research note on Wednesday, August 31st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.59.
In related news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
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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