Chemung Canal Trust Co. cut its position in Intel Corp. (NASDAQ:INTC) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,668 shares of the chip maker’s stock after selling 1,710 shares during the period. Chemung Canal Trust Co.’s holdings in Intel Corp. were worth $3,989,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Mercer Capital Advisers Inc. increased its stake in shares of Intel Corp. by 16.4% in the third quarter. Mercer Capital Advisers Inc. now owns 25,925 shares of the chip maker’s stock worth $977,000 after buying an additional 3,650 shares during the last quarter. First Merchants Corp increased its stake in shares of Intel Corp. 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 last quarter. Berkshire Asset Management LLC PA increased its stake in shares of Intel Corp. by 3.6% in the third quarter. Berkshire Asset Management LLC PA now owns 330,023 shares of the chip maker’s stock worth $12,458,000 after buying an additional 11,551 shares during the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of Intel Corp. by 1.7% in the third quarter. Gilman Hill Asset Management LLC now owns 8,952 shares of the chip maker’s stock worth $338,000 after buying an additional 150 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. increased its stake in shares of Intel Corp. by 14.5% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 93,175 shares of the chip maker’s stock worth $3,517,000 after buying an additional 11,799 shares during the last quarter. 64.89% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Intel Corp. (NASDAQ:INTC)

Intel Corp. (NASDAQ:INTC) traded down 1.73% during trading on Wednesday, reaching $34.70. The company’s stock had a trading volume of 27,012,091 shares. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.36. The company’s 50 day moving average price is $35.38 and its 200 day moving average price is $34.52. The company has a market cap of $164.44 billion, a P/E ratio of 16.28 and a beta of 1.07.

Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, beating the 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 company earned $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Intel Corp. will post $2.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is 49.06%.

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A number of analysts recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $42.00 price objective on shares of Intel Corp. in a research report on Tuesday. Instinet restated a “buy” rating and set a $35.50 target price on shares of Intel Corp. in a report on Tuesday. Vetr upgraded Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $39.45 target price for the company in a report on Thursday, November 24th. Argus restated a “buy” rating on shares of Intel Corp. in a report on Wednesday, November 23rd. Finally, Zacks Investment Research cut Intel Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $39.61.

In other news, 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 value of $9,132,008.00. Following the completion of the transaction, the vice president now owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andy D. Bryant sold 24,383 shares of the business’s stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $35.35, for a total transaction of $861,939.05. Following the completion of the transaction, the chairman now directly owns 399,940 shares of the company’s stock, valued at approximately $14,137,879. The disclosure for this sale can be found here. 0.09% of the stock is currently 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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