Columbia Asset Management cut its stake in shares of Intel Corp. (NASDAQ:INTC) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 182,293 shares of the chip maker’s stock after selling 2,715 shares during the period. Intel Corp. makes up approximately 2.1% of Columbia Asset Management’s holdings, making the stock its 10th largest position. Columbia Asset Management’s holdings in Intel Corp. were worth $5,979,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of INTC. Wade G W & Inc. boosted its stake in Intel Corp. by 3.6% in the first quarter. Wade G W & Inc. now owns 205,045 shares of the chip maker’s stock valued at $6,633,000 after buying an additional 7,156 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Intel Corp. by 4.8% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,754 shares of the chip maker’s stock valued at $1,448,000 after buying an additional 2,039 shares in the last quarter. IMS Capital Management boosted its stake in Intel Corp. by 48.5% in the first quarter. IMS Capital Management now owns 63,965 shares of the chip maker’s stock valued at $2,069,000 after buying an additional 20,898 shares in the last quarter. PacWest Financial Management Inc boosted its stake in Intel Corp. by 13.2% in the first quarter. PacWest Financial Management Inc now owns 98,033 shares of the chip maker’s stock valued at $3,171,000 after buying an additional 11,451 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Intel Corp. by 6.1% in the first quarter. DAVENPORT & Co LLC now owns 163,973 shares of the chip maker’s stock valued at $5,305,000 after buying an additional 9,428 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intel Corp. (NASDAQ:INTC) traded down 5.03% during trading on Wednesday, hitting $35.85. The company had a trading volume of 14,683,954 shares. The stock has a market capitalization of $169.61 billion, a price-to-earnings ratio of 17.39 and a beta of 1.09. The stock has a 50-day moving average of $36.98 and a 200 day moving average of $33.74. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36.
Intel Corp. (NASDAQ:INTC) last posted its earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. The firm earned $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.
INTC has been the topic of a number of research reports. Pacific Crest reissued a “buy” rating and set a $44.00 target price on shares of Intel Corp. in a report on Thursday, October 6th. KeyCorp increased their target price on shares of Intel Corp. from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 3rd. BlueFin Research reissued a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Citigroup Inc. reissued a “hold” rating and set a $36.00 target price (down from $38.00) on shares of Intel Corp. in a report on Wednesday. Finally, Goldman Sachs Group Inc. dropped their target price on shares of Intel Corp. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-four have assigned a buy rating to the company’s stock. Intel Corp. has an average rating of “Buy” and an average target price of $39.88.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the transaction, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. 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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