Biondo Investment Advisors LLC raised its stake in shares of Intel Corp. (NASDAQ:INTC) by 12.2% during the second quarter, Holdings Channel reports. The firm owned 97,155 shares of the chip maker’s stock after buying an additional 10,534 shares during the period. Biondo Investment Advisors LLC’s holdings in Intel Corp. were worth $3,187,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Institutional Capital LLC raised its stake in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock valued at $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 Intel Corp. during the first quarter valued at about $132,302,000. Natixis raised its stake in Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock valued at $97,244,000 after buying an additional 2,816,554 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $1,427,513,000 after buying an additional 2,414,858 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Intel Corp. by 6.0% in the first quarter. Primecap Management Co. CA now owns 31,713,985 shares of the chip maker’s stock valued at $1,025,947,000 after buying an additional 1,808,825 shares in the last quarter. Institutional investors own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.08% during midday trading on Friday, hitting $38.10. The company’s stock had a trading volume of 16,942,539 shares. The stock’s 50 day moving average is $36.55 and its 200-day moving average is $33.47. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.31. The firm has a market cap of $180.25 billion, a P/E ratio of 18.48 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share 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 had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.73%. Intel Corp.’s payout ratio is presently 50.24%.
INTC has been the topic of several analyst reports. Cowen and Company reaffirmed a “market perform” rating and issued a $36.00 target price (up from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Evercore ISI raised Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, September 6th. Vetr raised Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 target price on the stock in a research report on Monday, September 26th. Royal Bank Of Canada increased their target price 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 reaffirmed a “sector perform” rating and issued a $36.00 target price on shares of Intel Corp. in a research report on Wednesday, August 31st. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $39.59.
In related news, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. 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 sale, the vice president now owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of Intel Corp. stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. 0.09% of the stock is owned by 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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