Kentucky Retirement Systems Buys Shares of 401,549 Intel Corp. (INTC)
Kentucky Retirement Systems purchased a new stake in shares of Intel Corp. (NASDAQ:INTC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 401,549 shares of the chip maker’s stock, valued at approximately $13,171,000. Intel Corp. comprises approximately 0.9% of Kentucky Retirement Systems’ investment portfolio, making the stock its 23rd largest position.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock valued at $9,824,733,000 after buying an additional 5,697,051 shares during the period. Capital World Investors increased its stake in shares of Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock valued at $5,479,164,000 after buying an additional 8,095,076 shares during the period. Capital Research Global Investors increased its stake in shares of Intel Corp. by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock valued at $3,381,823,000 after buying an additional 4,719,872 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock valued at $1,498,217,000 after buying an additional 8,662,708 shares during the period. Finally, 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 valued at $1,427,513,000 after buying an additional 2,414,858 shares during the period. Institutional investors and hedge funds own 64.48% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded down 0.20% during midday trading on Friday, hitting $34.95. The stock had a trading volume of 16,806,853 shares. The firm has a market cap of $165.63 billion, a price-to-earnings ratio of 16.40 and a beta of 1.07. The firm has a 50 day moving average of $35.80 and a 200 day moving average of $34.23. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.36.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Intel Corp. had a return on equity of 21.05% and a net margin of 17.90%. The firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that Intel Corp. will post $2.67 EPS for the current 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 $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.98%. Intel Corp.’s dividend payout ratio is currently 49.06%.
INTC has been the subject of several research analyst reports. B. Riley restated a “buy” rating and issued a $42.00 price target on shares of Intel Corp. in a research report on Wednesday, August 17th. Robert W. Baird increased their target price on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 19th. Brean Capital reiterated a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Intel Corp. in a research report on Thursday, September 22nd. Sanford C. Bernstein reiterated a “market perform” rating and issued a $35.00 target price (up previously from $33.00) on shares of Intel Corp. in a research report on Friday, October 21st. Finally, Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Monday, September 26th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $39.87.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $34.92, for a total value of $488,775.24. Following the sale, the executive vice president now directly owns 817 shares of the company’s stock, valued at $28,529.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stacy J. Smith sold 29,497 shares of the stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $35.38, for a total value of $1,043,603.86. Following the completion of the sale, the executive vice president now directly owns 257,695 shares in the company, valued at $9,117,249.10. The disclosure for this sale can be found here. 0.09% of the stock is 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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