Chesley Taft & Associates LLC increased its stake in Intel Corp. (NASDAQ:INTC) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 301,682 shares of the chip maker’s stock after buying an additional 903 shares during the period. Chesley Taft & Associates LLC’s holdings in Intel Corp. were worth $9,895,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. James Investment Research Inc. raised its position in Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares in the last quarter. Park National Corp OH raised its position in Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock valued at $58,917,000 after buying an additional 89,568 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in Intel Corp. during the first quarter valued at about $132,302,000. Finally, CIBC World Markets Inc. raised its position in Intel Corp. by 14.2% in the second quarter. CIBC World Markets Inc. now owns 532,676 shares of the chip maker’s stock valued at $17,472,000 after buying an additional 66,041 shares in the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
Intel Corp. (NASDAQ:INTC) traded down 0.38% on Wednesday, hitting $37.13. The stock had a trading volume of 14,053,261 shares. The company’s 50-day moving average is $36.69 and its 200-day moving average is $33.56. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The stock has a market cap of $175.66 billion, a P/E ratio of 18.01 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last issued its quarterly 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 company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts anticipate 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. Investors of record on Monday, November 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
INTC has been the subject of several recent analyst reports. Zacks Investment Research raised Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, September 26th. Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective for the company. in a report on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $31.00 price objective on shares of Intel Corp. in a report on Wednesday, September 14th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $39.66.
In related news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction 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 transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Pearson sold 1,866 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.68, for a total value of $64,712.88. Following the completion of the transaction, the vice president now directly owns 86,635 shares in the company, valued at $3,004,501.80. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate 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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