State of Alaska Department of Revenue Acquires 2,720 Shares of Intel Corporation (INTC)
State of Alaska Department of Revenue increased its holdings in shares of Intel Corporation (NASDAQ:INTC) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 369,636 shares of the chip maker’s stock after acquiring an additional 2,720 shares during the period. Intel Corporation comprises about 0.8% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 22nd biggest position. State of Alaska Department of Revenue’s holdings in Intel Corporation were worth $12,471,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of INTC. Watermark Asset Management Inc. bought a new stake in Intel Corporation in the first quarter valued at $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Intel Corporation by 53.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after acquiring an additional 1,400 shares in the last quarter. Vigilant Capital Management LLC raised its stake in Intel Corporation by 22.6% during the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after acquiring an additional 805 shares in the last quarter. Farmers National Bank raised its stake in Intel Corporation by 5.1% during the first quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock worth $183,000 after acquiring an additional 234 shares in the last quarter. Finally, ARP Americas LLC acquired a new position in Intel Corporation during the first quarter worth $202,000. Institutional investors and hedge funds own 67.03% of the company’s stock.
Shares of Intel Corporation (NASDAQ INTC) traded up 1.463% during trading on Tuesday, hitting $39.611. 15,821,386 shares of the stock traded hands. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $39.62. The company has a market cap of $186.13 billion, a P/E ratio of 15.119 and a beta of 1.07. The stock has a 50-day moving average of $36.07 and a 200 day moving average of $35.67. Intel Corporation also was the target of unusually large options trading on Monday. Stock investors bought 65,675 call options on the stock. This represents an increase of approximately 250% compared to the average daily volume of 18,768 call options.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, equities research analysts predict that Intel Corporation will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is 41.76%.
In related news, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane M. Bryant sold 2,119 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $34.68, for a total transaction of $73,486.92. Following the sale, the executive vice president now directly owns 108,471 shares in the company, valued at approximately $3,761,774.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,748 shares of company stock worth $698,654. Insiders own 0.08% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Intel Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Vetr raised shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 target price on the stock in a report on Monday, June 12th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Intel Corporation in a report on Friday, June 16th. BidaskClub cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $38.00 in a research report on Wednesday, June 21st. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Intel Corporation currently has a consensus rating of “Hold” and a consensus price target of $40.61.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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