Lincoln National Corp boosted its position in Intel Corp. (NASDAQ:INTC) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 95,743 shares of the chip maker’s stock after buying an additional 12,369 shares during the period. Lincoln National Corp’s holdings in Intel Corp. were worth $3,140,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Carnick & Kubik LLC purchased a new position in Intel Corp. during the first quarter worth $100,000. Proficio Capital Partners LLC increased its position in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares during the period. Financial Management Professionals Inc. increased its position in Intel Corp. by 18.7% in the second quarter. Financial Management Professionals Inc. now owns 3,960 shares of the chip maker’s stock worth $129,000 after buying an additional 625 shares during the period. Parasol Investment Management LLC increased its position in Intel Corp. by 34.3% in the second quarter. Parasol Investment Management LLC now owns 3,990 shares of the chip maker’s stock worth $131,000 after buying an additional 1,020 shares during the period. Finally, American National Bank increased its position in Intel Corp. by 103.2% in the second quarter. American National Bank now owns 4,459 shares of the chip maker’s stock worth $146,000 after buying an additional 2,265 shares during the period. 64.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.47% during midday trading on Friday, reaching $37.89. The company’s stock had a trading volume of 7,609,447 shares. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.31. The company has a market capitalization of $179.26 billion, a P/E ratio of 18.38 and a beta of 1.09. The company’s 50-day moving average price is $36.46 and its 200 day moving average price is $33.43.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Intel Corp. will post $2.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
A number of equities analysts have weighed in on the company. Citigroup Inc. reaffirmed a “neutral” rating and set a $35.00 price target (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Intel Corp. in a research note on Thursday, July 21st. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the stock a “neutral” rating in a research note on Friday, July 22nd. Argus reiterated a “buy” rating and set a $41.00 price objective on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Vetr cut Intel Corp. from a “hold” rating to a “sell” rating and set a $33.56 price objective on the stock. in a research note on Tuesday, August 16th. Three investment 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 issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.59.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the sale, the vice president now owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by 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.
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Corp. (NASDAQ:INTC).
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.