Meyer Handelman Co. raised its position in shares of Intel Corp. (NASDAQ:INTC) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 782,078 shares of the chip maker’s stock after buying an additional 1,500 shares during the period. Intel Corp. accounts for approximately 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 29th largest position. Meyer Handelman Co.’s holdings in Intel Corp. were worth $25,652,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Institutional Capital LLC increased 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 valued at $329,388,000 after buying an additional 7,969,512 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Intel Corp. during the first quarter valued at $132,302,000. Natixis increased 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 valued at $97,244,000 after buying an additional 2,816,554 shares during the period. Geode Capital Management LLC increased 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 valued at $1,427,513,000 after buying an additional 2,414,858 shares during the period. Finally, Primecap Management Co. CA increased its stake in shares of 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 during the period. Institutional investors own 64.77% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded up 0.08% on Friday, reaching $38.10. 16,942,539 shares of the company traded hands. The firm has a 50 day moving average price of $36.55 and a 200 day moving average price of $33.47. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.31. The stock has a market capitalization of $180.25 billion, a price-to-earnings ratio of 18.48 and a beta of 1.09.
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 the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Equities research analysts predict that Intel Corp. will post $2.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.73%. Intel Corp.’s payout ratio is presently 50.24%.
INTC has been the subject of several recent analyst reports. Cowen and Company restated a “market perform” rating and issued a $36.00 target price (up 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 target price 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 raised their price target on shares of 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 reaffirmed a “sector perform” rating and issued a $36.00 price target on shares of Intel Corp. in a report on Wednesday, August 31st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $39.59.
In other Intel Corp. news, CFO Stacy J. Smith sold 29,497 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the sale, the chief financial officer now owns 263,772 shares in the company, valued at approximately $9,092,220.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Andy D. Bryant sold 445,095 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares in the company, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
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.
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