First Washington CORP cut its stake in shares of Intel Corp. (NASDAQ:INTC) by 35.9% during the second quarter, Holdings Channel reports. The firm owned 67,219 shares of the chip maker’s stock after selling 37,610 shares during the period. First Washington CORP’s holdings in Intel Corp. were worth $2,205,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in INTC. Carnick & Kubik LLC purchased a new position in Intel Corp. during the first quarter valued at about $100,000. Proficio Capital Partners LLC raised 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 last quarter. Financial Management Professionals Inc. raised 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 last quarter. Parasol Investment Management LLC raised 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 last quarter. Finally, American National Bank raised 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 last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intel Corp. (NASDAQ:INTC) traded down 1.854% during mid-day trading on Tuesday, hitting $37.315. 6,123,329 shares of the company were exchanged. The firm has a market capitalization of $176.54 billion, a P/E ratio of 18.097 and a beta of 1.09. The company’s 50-day moving average price is $36.63 and its 200-day moving average price is $33.54. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business 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 business earned $0.55 EPS. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.74%. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
Several research firms recently issued reports on INTC. Royal Bank Of Canada reissued a “hold” rating on shares of Intel Corp. in a research note on Saturday, July 9th. B. Riley reaffirmed a “buy” rating and issued a $42.00 price target on shares of Intel Corp. in a research report on Thursday, July 21st. Robert W. Baird increased their price target on Intel Corp. from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, September 6th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Finally, Cowen and Company increased their price target on Intel Corp. from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, September 16th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Intel Corp. presently has an average rating of “Buy” and a consensus target price of $39.65.
In related news, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were 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 in the company, valued at approximately $15,857,281.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Stacy J. Smith sold 29,497 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the completion of the transaction, the chief financial officer now owns 263,772 shares in the company, valued at approximately $9,092,220.84. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
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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