River Road Asset Management LLC cut its stake in Intel Corp. (NASDAQ:INTC) by 20.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,646,673 shares of the chip maker’s stock after selling 686,800 shares during the period. Intel Corp. makes up about 1.8% of River Road Asset Management LLC’s holdings, making the stock its 7th largest position. River Road Asset Management LLC owned about 0.06% of Intel Corp. worth $86,811,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Carnick & Kubik LLC purchased a new position in shares of Intel Corp. during the first quarter valued at about $100,000. Proficio Capital Partners LLC raised its position in shares of 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 shares of 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 shares of 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 shares of 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. Institutional investors and hedge funds own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.75% during trading on Wednesday, hitting $37.46. 9,903,169 shares of the stock were exchanged. The company has a market cap of $177.22 billion, a price-to-earnings ratio of 18.17 and a beta of 0.93. The stock’s 50 day moving average price is $35.89 and its 200-day moving average price is $33.16. Intel Corp. has a one year low of $27.68 and a one year high of $38.05.
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. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Intel Corp. will post $2.58 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.80%. Intel Corp.’s dividend payout ratio is presently 50.24%.
Several brokerages have issued reports on INTC. Royal Bank Of Canada reiterated a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. B. Riley reiterated a “buy” rating and issued a $42.00 price target on shares of Intel Corp. in a report on Tuesday, July 26th. Argus restated a “buy” rating and issued a $41.00 target price on shares of Intel Corp. in a report on Monday, July 25th. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. Finally, Sanford C. Bernstein set a $31.00 target price on Intel Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. Three equities research 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. The stock has a consensus rating of “Buy” and an average price target of $39.26.
In other Intel Corp. news, CEO Brian M. Krzanich sold 71,413 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.73, for a total value of $2,337,347.49. Following the transaction, the chief executive officer now directly owns 435,796 shares in the company, valued at approximately $14,263,603.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of 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.
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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