Linscomb & Williams Inc. reduced its position in shares of Intel Corp. (NASDAQ:INTC) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 102,354 shares of the chip maker’s stock after selling 5,977 shares during the period. Linscomb & Williams Inc.’s holdings in Intel Corp. were worth $3,357,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Ifrah Financial Services Inc. raised its position in shares of Intel Corp. by 106.9% in the second quarter. Ifrah Financial Services Inc. now owns 17,051 shares of the chip maker’s stock valued at $559,000 after buying an additional 8,809 shares in the last quarter. InterOcean Capital LLC raised its position in shares of Intel Corp. by 11.5% in the second quarter. InterOcean Capital LLC now owns 320,578 shares of the chip maker’s stock valued at $10,515,000 after buying an additional 32,980 shares in the last quarter. Janney Capital Management LLC raised its position in shares of Intel Corp. by 2.6% in the second quarter. Janney Capital Management LLC now owns 20,505 shares of the chip maker’s stock valued at $672,000 after buying an additional 516 shares in the last quarter. Lincoln National Corp raised its position in shares of Intel Corp. by 14.8% in the second quarter. Lincoln National Corp now owns 95,743 shares of the chip maker’s stock valued at $3,140,000 after buying an additional 12,369 shares in the last quarter. Finally, Motco raised its position in shares of Intel Corp. by 1.7% in the second quarter. Motco now owns 123,874 shares of the chip maker’s stock valued at $4,063,000 after buying an additional 2,011 shares in the last quarter. 64.77% of the stock is owned by institutional investors.
Intel Corp. (NASDAQ:INTC) traded up 0.08% during trading on Friday, hitting $38.10. The stock had a trading volume of 16,942,539 shares. The company’s 50 day moving average is $36.55 and its 200 day moving average is $33.47. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.31. The firm has a market cap of $180.25 billion, a PE ratio of 18.48 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities research analysts forecast that Intel Corp. will post $2.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.73%. Intel Corp.’s dividend payout ratio is currently 50.24%.
Several equities analysts recently issued reports on INTC shares. Pacific Crest upgraded Intel Corp. to an “outperform” rating in a research report on Monday, June 13th. Sanford C. Bernstein reiterated a “sell” rating on shares of Intel Corp. in a research report on Monday, June 13th. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, June 21st. Vetr lowered Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 price objective for the company. in a research report on Wednesday, June 22nd. Finally, Argus reiterated a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.59.
In other news, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was 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 of the company’s stock, valued at $15,857,281.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the company’s 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 in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
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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