Manning & Napier Advisors LLC lowered its stake in Intel Corp. (NASDAQ:INTC) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 549,066 shares of the chip maker’s stock after selling 16,313 shares during the period. Manning & Napier Advisors LLC’s holdings in Intel Corp. were worth $18,008,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its position in Intel Corp. by 1.8% in the second quarter. Glenmede Trust Co. NA now owns 3,743,762 shares of the chip maker’s stock valued at $122,794,000 after buying an additional 65,239 shares in the last quarter. Bangor Savings Bank boosted its position in Intel Corp. by 5.3% in the second quarter. Bangor Savings Bank now owns 19,805 shares of the chip maker’s stock valued at $650,000 after buying an additional 990 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Intel Corp. by 1.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 119,901 shares of the chip maker’s stock valued at $3,540,000 after buying an additional 1,619 shares in the last quarter. First Trust Advisors LP boosted its position in Intel Corp. by 77.2% in the second quarter. First Trust Advisors LP now owns 4,989,680 shares of the chip maker’s stock valued at $163,662,000 after buying an additional 2,174,240 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Intel Corp. during the second quarter valued at about $232,000. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corp. (NASDAQ:INTC) traded up 1.15% during midday trading on Friday, hitting $37.75. 24,279,306 shares of the stock were exchanged. The company’s 50 day moving average is $36.13 and its 200-day moving average is $33.27. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05. The stock has a market cap of $178.60 billion, a PE ratio of 18.31 and a beta of 0.93.
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, topping analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Intel Corp. will post $2.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is 50.24%.
INTC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, September 26th. Vetr cut shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective on the stock. in a research report on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. Morgan Stanley reiterated an “underweight” rating and set a $31.00 price objective on shares of Intel Corp. in a research report on Wednesday, September 14th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $34.00 price objective on shares of Intel Corp. in a research report on Monday, September 19th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Intel Corp. has an average rating of “Buy” and a consensus price target of $39.26.
In related news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now directly owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
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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