Pitcairn Co. Sells 286 Shares of Intel Corporation (INTC)
Pitcairn Co. reduced its position in shares of Intel Corporation (NASDAQ:INTC) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,359 shares of the chip maker’s stock after selling 286 shares during the period. Pitcairn Co.’s holdings in Intel Corporation were worth $1,227,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in INTC. Watermark Asset Management Inc. bought a new position in Intel Corporation during the 1st quarter valued at about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after purchasing an additional 1,400 shares during the last quarter. Orrstown Financial Services Inc. lifted its holdings in Intel Corporation by 23.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock valued at $155,000 after purchasing an additional 857 shares during the last quarter. Winfield Associates Inc. lifted its holdings in Intel Corporation by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after purchasing an additional 265 shares during the last quarter. Finally, Vigilant Capital Management LLC lifted its holdings in Intel Corporation by 22.6% during the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after purchasing an additional 805 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.
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In related news, CEO Brian M. Krzanich sold 61,860 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.74, for a total value of $2,396,456.40. Following the transaction, the chief executive officer now directly owns 543,948 shares in the company, valued at $21,072,545.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andy D. Bryant sold 89,087 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.80, for a total transaction of $3,991,097.60. Following the completion of the transaction, the chairman now owns 428,789 shares in the company, valued at $19,209,747.20. The disclosure for this sale can be found here. Insiders sold 657,612 shares of company stock worth $28,806,336 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the stock. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $30.00 target price (up from $29.00) on shares of Intel Corporation in a research note on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 target price on shares of Intel Corporation and gave the stock a “sell” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $40.00 target price (up from $37.00) on shares of Intel Corporation in a research note on Friday, October 6th. KeyCorp reaffirmed a “buy” rating and issued a $50.00 target price on shares of Intel Corporation in a research note on Friday, October 27th. Finally, Hilliard Lyons assumed coverage on shares of Intel Corporation in a research note on Wednesday, July 12th. They issued a “buy” rating and a $41.00 target price for the company. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.00.
Intel Corporation (NASDAQ INTC) opened at $46.78 on Wednesday. The firm has a market cap of $218,556.00, a PE ratio of 14.69, a PEG ratio of 1.71 and a beta of 1.09. Intel Corporation has a 1 year low of $33.23 and a 1 year high of $47.30. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.60 and a quick ratio of 1.27.
Intel Corporation (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Intel Corporation’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts predict that Intel Corporation will post 3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.33%. Intel Corporation’s dividend payout ratio (DPR) is presently 38.11%.
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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