Janney Montgomery Scott LLC raised its position in Intel Corp. (NASDAQ:INTC) by 112.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,745,335 shares of the chip maker’s stock after buying an additional 921,971 shares during the period. Intel Corp. accounts for about 0.9% of Janney Montgomery Scott LLC’s portfolio, making the stock its 15th largest position. Janney Montgomery Scott LLC’s holdings in Intel Corp. were worth $58,562,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Intel Corp. during the second quarter worth about $295,226,000. Institutional Capital LLC increased its position 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 worth $329,388,000 after buying an additional 7,969,512 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Intel Corp. during the first quarter worth about $132,302,000. Natixis increased its position in 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 during the last quarter. Finally, Geode Capital Management LLC increased its position 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 worth $1,427,513,000 after buying an additional 2,414,858 shares during the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded up 0.08% on Friday, reaching $38.10. The company’s stock had a trading volume of 16,942,539 shares. The stock has a 50 day moving average price of $36.55 and a 200-day moving average price of $33.47. The company has a market capitalization of $180.25 billion, a price-to-earnings ratio of 18.48 and a beta of 1.09. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.31.
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, beating the 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 the consensus estimate of $13.54 billion. During the same period in the previous year, the business earned $0.55 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
A number of equities research analysts recently weighed in on the company. Cowen and Company reaffirmed a “market perform” rating and set a $36.00 price objective (up previously 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 price objective 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 price objective on the stock in a research report on Monday, September 26th. Royal Bank Of Canada raised their price target on Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, July 8th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $36.00 price target on shares of Intel Corp. in a report on Wednesday, August 31st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. Intel Corp. currently has a consensus rating of “Buy” and an average price target of $39.59.
In other news, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stacy J. Smith sold 29,497 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were 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 owns 263,772 shares in the company, valued at $9,092,220.84. The disclosure for this sale can be found here. Company 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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