NCM Capital Management Group Inc. lowered its stake in shares of Intel Corp. (NASDAQ:INTC) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 4,425 shares of the chip maker’s stock after selling 125 shares during the period. Intel Corp. comprises approximately 1.8% of NCM Capital Management Group Inc.’s portfolio, making the stock its 19th largest position. NCM Capital Management Group Inc.’s holdings in Intel Corp. were worth $145,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Bank of The West increased its position in shares of Intel Corp. by 11.3% in the second quarter. Bank of The West now owns 134,263 shares of the chip maker’s stock valued at $4,404,000 after buying an additional 13,597 shares during the last quarter. Torray LLC boosted its stake in Intel Corp. by 0.5% in the second quarter. Torray LLC now owns 381,171 shares of the chip maker’s stock valued at $12,502,000 after buying an additional 1,890 shares during the period. AR Asset Management Inc. boosted its stake in Intel Corp. by 0.9% in the second quarter. AR Asset Management Inc. now owns 56,500 shares of the chip maker’s stock valued at $1,853,000 after buying an additional 500 shares during the period. Wade G W & Inc. boosted its stake in Intel Corp. by 5.3% in the second quarter. Wade G W & Inc. now owns 215,931 shares of the chip maker’s stock valued at $7,083,000 after buying an additional 10,886 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in Intel Corp. by 4.4% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 29,439 shares of the chip maker’s stock valued at $966,000 after buying an additional 1,250 shares during the period. Institutional investors own 64.77% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded up 1.62% during midday trading on Wednesday, hitting $38.15. 11,138,991 shares of the company traded hands. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.31. The stock has a market cap of $180.49 billion, a P/E ratio of 18.50 and a beta of 1.09. The stock has a 50 day moving average of $36.30 and a 200 day moving average of $33.37.
Intel Corp. (NASDAQ:INTC) last posted its 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 company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Equities research analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is 50.24%.
Several research firms have issued reports on INTC. Citigroup Inc. reissued a “neutral” rating and issued a $35.00 price objective (up from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 price objective on shares of Intel Corp. and gave the company a “neutral” rating in a research report on Friday, July 22nd. Argus reissued a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research report on Monday, July 25th. Finally, Vetr cut shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $33.56 price objective for the company. in a research report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have given 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 target price of $39.46.
In other Intel Corp. news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total value of $485,835.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the sale, the vice president now owns 92,826 shares in the company, valued at $3,388,149. The disclosure for this sale can be found here. 0.09% of the stock is owned by company 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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