Intel Corp. (INTC) Stake Increased by Williams Jones & Associates LLC
Williams Jones & Associates LLC raised its position in Intel Corp. (NASDAQ:INTC) by 282.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,244 shares of the chip maker’s stock after buying an additional 129,387 shares during the period. Williams Jones & Associates LLC’s holdings in Intel Corp. were worth $5,748,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of INTC. BSW Wealth Partners raised its position in Intel Corp. by 23.1% in the first quarter. BSW Wealth Partners now owns 7,771 shares of the chip maker’s stock worth $251,000 after buying an additional 1,457 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Intel Corp. by 6.0% in the first quarter. Primecap Management Co. CA now owns 31,713,985 shares of the chip maker’s stock worth $1,025,947,000 after buying an additional 1,808,825 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Intel Corp. by 3.8% in the first quarter. Riverhead Capital Management LLC now owns 979,587 shares of the chip maker’s stock worth $31,688,000 after buying an additional 36,100 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Intel Corp. by 2.3% in the first quarter. Cleararc Capital Inc. now owns 119,748 shares of the chip maker’s stock worth $3,874,000 after buying an additional 2,666 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its position in shares of Intel Corp. by 10.8% in the first quarter. Baker Avenue Asset Management LP now owns 13,749 shares of the chip maker’s stock worth $445,000 after buying an additional 1,344 shares in the last quarter. 64.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.20% during midday trading on Friday, reaching $34.95. The company’s stock had a trading volume of 16,806,853 shares. The firm has a market capitalization of $165.63 billion, a P/E ratio of 16.40 and a beta of 1.07. The stock has a 50-day moving average of $35.80 and a 200 day moving average of $34.23. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Intel Corp. had a net margin of 17.90% and a return on equity of 21.05%. The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter 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 fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 49.06%.
A number of brokerages have commented on INTC. Pacific Crest reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Intel Corp. in a report on Thursday, October 6th. KeyCorp upped their target price on Intel Corp. from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 3rd. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a research report on Monday, October 3rd. B. Riley reiterated a “buy” rating and set a $46.00 target price (up from $45.00) on shares of Intel Corp. in a research report on Wednesday, October 19th. Finally, Goldman Sachs Group Inc. set a $36.00 target price on Intel Corp. and gave the company a “neutral” rating in a research report on Wednesday, October 19th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Intel Corp. presently has a consensus rating of “Buy” and a consensus price target of $39.87.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $34.92, for a total transaction of $488,775.24. Following the completion of the transaction, the executive vice president now directly owns 817 shares in the company, valued at $28,529.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
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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