Ledyard National Bank Has $13,387,000 Position in Intel Co. (INTC)
Ledyard National Bank reduced its position in shares of Intel Co. (NASDAQ:INTC) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 354,612 shares of the chip maker’s stock after selling 4,083 shares during the period. Intel makes up 2.4% of Ledyard National Bank’s investment portfolio, making the stock its 3rd largest position. Ledyard National Bank’s holdings in Intel were worth $13,387,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. First Merchants Corp boosted its stake in shares of Intel by 5.3% in the third quarter. First Merchants Corp now owns 25,710 shares of the chip maker’s stock worth $970,000 after buying an additional 1,294 shares during the period. Berkshire Asset Management LLC PA raised its position in shares of Intel by 3.6% in the third quarter. Berkshire Asset Management LLC PA now owns 330,023 shares of the chip maker’s stock valued at $12,458,000 after buying an additional 11,551 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of Intel by 1.7% in the third quarter. Gilman Hill Asset Management LLC now owns 8,952 shares of the chip maker’s stock valued at $338,000 after buying an additional 150 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its position in shares of Intel by 14.5% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 93,175 shares of the chip maker’s stock valued at $3,517,000 after buying an additional 11,799 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of Intel by 1.0% in the third quarter. Oakworth Capital Inc. now owns 31,855 shares of the chip maker’s stock valued at $1,203,000 after buying an additional 313 shares in the last quarter. 64.89% of the stock is owned by institutional investors.
Intel Co. (NASDAQ:INTC) traded up 0.28% during trading on Monday, hitting $35.54. The stock had a trading volume of 8,114,881 shares. The company has a 50-day moving average of $35.46 and a 200 day moving average of $34.41. The firm has a market cap of $168.42 billion, a P/E ratio of 16.68 and a beta of 1.07. Intel Co. has a 52-week low of $27.68 and a 52-week high of $38.36.
Intel (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 Zacks’ consensus estimate of $0.73 by $0.07. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. Intel had a return on equity of 21.05% and a net margin of 17.90%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, equities research analysts predict that Intel Co. will post $2.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.92%. Intel’s dividend payout ratio (DPR) is presently 49.06%.
Several brokerages recently issued reports on INTC. Pacific Crest reiterated a “buy” rating and issued a $44.00 price objective on shares of Intel in a research report on Thursday, October 6th. KeyCorp upped their price target on Intel from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 3rd. BlueFin Research reaffirmed a “buy” rating on shares of Intel in a research report on Monday, October 3rd. B. Riley reaffirmed a “buy” rating and set a $46.00 price target (up previously from $45.00) on shares of Intel in a research report on Wednesday, October 19th. Finally, Goldman Sachs Group Inc. set a $36.00 price target on Intel and gave the stock a “neutral” rating in a research report on Wednesday, October 19th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.71.
In other Intel news, Chairman Andy D. Bryant sold 24,383 shares of the firm’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $35.35, for a total transaction of $861,939.05. Following the sale, the chairman now directly owns 399,940 shares of the company’s stock, valued at $14,137,879. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the sale, the chief executive officer now directly owns 420,506 shares in the company, valued at $15,857,281.26. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Intel 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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