Brown Advisory Securities LLC cut its position in shares of Intel Corp. (NASDAQ:INTC) by 20.8% during the second quarter, Holdings Channel reports. The firm owned 77,089 shares of the chip maker’s stock after selling 20,196 shares during the period. Brown Advisory Securities LLC’s holdings in Intel Corp. were worth $2,529,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in Intel Corp. during the second quarter valued at $295,226,000. Institutional Capital LLC increased 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 during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Intel Corp. during the first quarter valued at $132,302,000. Natixis increased 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 during the last quarter. Finally, Geode Capital Management LLC increased 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 during the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
Intel Corp. (NASDAQ:INTC) traded down 0.70% during midday trading on Wednesday, reaching $37.01. The company had a trading volume of 5,392,230 shares. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The stock’s 50 day moving average is $36.69 and its 200 day moving average is $33.56. The company has a market capitalization of $175.09 billion, a PE ratio of 17.95 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 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 business earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter last year, the company posted $0.55 earnings per share. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Intel Corp. will post $2.58 earnings per share for the current fiscal 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.
Several equities research analysts have recently commented on the company. Sanford C. Bernstein restated an “underperform” rating and set a $26.00 price target on shares of Intel Corp. in a research note on Monday, June 20th. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, June 21st. Vetr cut Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 price target for the company. in a research note on Wednesday, June 22nd. Argus restated a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a research note on Wednesday, June 29th. Finally, Citigroup Inc. restated a “neutral” rating and set a $35.00 price target (up previously from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. Intel Corp. currently has an average rating of “Buy” and a consensus target price of $39.66.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the business’s stock in a transaction that occurred on 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 is available at this link. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was 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 disclosure for this sale can be found here. 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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