Wedgewood Investors Inc. PA maintained its stake in Intel Corp. (NASDAQ:INTC) during the second quarter, Holdings Channel reports. The firm owned 24,584 shares of the chip maker’s stock at the end of the second quarter. Wedgewood Investors Inc. PA’s holdings in Intel Corp. were worth $806,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Carnick & Kubik LLC bought a new position in Intel Corp. during the first quarter valued at $100,000. Proficio Capital Partners LLC increased its position in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares during the period. Financial Management Professionals Inc. increased its position in Intel Corp. by 18.7% in the second quarter. Financial Management Professionals Inc. now owns 3,960 shares of the chip maker’s stock valued at $129,000 after buying an additional 625 shares during the period. Parasol Investment Management LLC increased its position in Intel Corp. by 34.3% in the second quarter. Parasol Investment Management LLC now owns 3,990 shares of the chip maker’s stock valued at $131,000 after buying an additional 1,020 shares during the period. Finally, American National Bank increased its position in Intel Corp. by 103.2% in the second quarter. American National Bank now owns 4,459 shares of the chip maker’s stock valued at $146,000 after buying an additional 2,265 shares during the period. 64.77% of the stock is owned by institutional investors and hedge funds.
Intel Corp. (NASDAQ:INTC) traded down 0.86% during midday trading on Thursday, hitting $36.81. 6,990,636 shares of the stock traded hands. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The company has a market cap of $174.15 billion, a PE ratio of 17.85 and a beta of 1.09. The company’s 50-day moving average is $36.74 and its 200-day moving average is $33.59.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data 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. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts expect that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is 50.24%.
Several equities analysts recently weighed in on the company. Pacific Crest reiterated a “buy” rating and set a $44.00 target price on shares of Intel Corp. in a research report on Thursday, October 6th. KeyCorp lifted their target price on Intel Corp. from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 3rd. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a research report on Monday, October 3rd. B. Riley reiterated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Intel Corp. in a research report on Friday, September 16th. Finally, Citigroup Inc. lifted their target price on Intel Corp. from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.64.
In related news, Chairman Andy D. Bryant sold 445,095 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the transaction, the chairman now owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the transaction, the chief executive officer now directly owns 420,506 shares in the company, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. Corporate 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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