First American Bank raised its position in shares of Intel Corp. (NASDAQ:INTC) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,864 shares of the chip maker’s stock after buying an additional 14,779 shares during the period. First American Bank’s holdings in Intel Corp. were worth $4,849,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Institutional Capital LLC increased its stake in shares of Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Intel Corp. during the first quarter worth approximately $132,302,000. Natixis increased its stake in shares of Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock worth $97,244,000 after buying an additional 2,816,554 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Intel Corp. by 6.0% in the first quarter. Primecap Management Co. CA now owns 31,713,985 shares of the chip maker’s stock worth $1,025,947,000 after buying an additional 1,808,825 shares during the last quarter. 64.77% of the stock is owned by institutional investors.
Intel Corp. (NASDAQ:INTC) traded up 1.15% during trading on Friday, hitting $37.75. 24,279,306 shares of the stock were exchanged. The stock has a market cap of $178.60 billion, a P/E ratio of 18.31 and a beta of 0.93. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05. The stock’s 50 day moving average price is $36.13 and its 200 day moving average price is $33.27.
Intel Corp. (NASDAQ:INTC) last posted 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. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Analysts forecast that Intel Corp. will post $2.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given 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 2.76%. Intel Corp.’s payout ratio is presently 50.24%.
A number of analysts recently commented on INTC shares. Cowen and Company reaffirmed a “market perform” rating and set a $36.00 price target (up from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Evercore ISI raised Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, September 6th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price objective for the company. in a report on Monday, July 4th. Royal Bank Of Canada increased their price objective on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $36.00 price objective on shares of Intel Corp. in a report on Wednesday, August 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Intel Corp. has a consensus rating of “Buy” and an average price target of $39.26.
In related news, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now directly owns 92,826 shares in the company, valued at $3,388,149. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the transaction, the vice president now owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. Corporate 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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