CIBC World Markets Inc. Has $17,472,000 Position in Intel Corp. (INTC)
CIBC World Markets Inc. increased its stake in shares of Intel Corp. (NASDAQ:INTC) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,676 shares of the chip maker’s stock after buying an additional 66,041 shares during the period. CIBC World Markets Inc.’s holdings in Intel Corp. were worth $17,472,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Carnick & Kubik LLC acquired a new position in Intel Corp. during the first quarter valued at about $100,000. Parasol Investment Management LLC boosted its position in 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. American National Bank boosted its position in 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. D. Scott Neal Inc. boosted its position in Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock valued at $163,000 after buying an additional 35 shares during the last quarter. Finally, CapWealth Advisors LLC boosted its position in Intel Corp. by 43.9% in the first quarter. CapWealth Advisors LLC now owns 5,493 shares of the chip maker’s stock valued at $178,000 after buying an additional 1,676 shares during the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
Intel Corp. (NASDAQ:INTC) traded down 0.21% during trading on Monday, reaching $38.02. 14,954,297 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $36.63 and its 200 day moving average price is $33.54. The firm has a market cap of $179.87 billion, a P/E ratio of 18.44 and a beta of 1.09. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 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 analysts’ expectations of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.
INTC has been the topic of several recent analyst reports. Cowen and Company reiterated a “market perform” rating and set a $36.00 target price (up previously from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Evercore ISI upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, September 6th. Vetr upgraded Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 target price on the stock in a research report on Monday, September 26th. Royal Bank Of Canada boosted their target price on Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 8th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $36.00 target price on shares of Intel Corp. in a research report on Wednesday, August 31st. Three 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. The company has an average rating of “Buy” and a consensus price target of $39.65.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 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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