Jennison Associates LLC Decreases Holdings in Intel Corporation (INTC)
Jennison Associates LLC reduced its holdings in shares of Intel Corporation (NASDAQ:INTC) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,423 shares of the chip maker’s stock after selling 4,939 shares during the quarter. Jennison Associates LLC’s holdings in Intel Corporation were worth $1,499,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTC. Legal & General Group Plc boosted its stake in shares of Intel Corporation by 1.6% in the second quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock valued at $860,658,000 after purchasing an additional 412,747 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Intel Corporation by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,627,860 shares of the chip maker’s stock valued at $830,944,000 after purchasing an additional 766,819 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Intel Corporation by 3.1% in the second quarter. Fisher Asset Management LLC now owns 20,791,355 shares of the chip maker’s stock valued at $701,500,000 after purchasing an additional 623,698 shares during the period. Sanders Capital LLC boosted its stake in shares of Intel Corporation by 2.2% in the first quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock valued at $545,383,000 after purchasing an additional 316,800 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Intel Corporation by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 9,761,964 shares of the chip maker’s stock valued at $329,427,000 after acquiring an additional 686,808 shares in the last quarter. Institutional investors own 67.17% of the company’s stock.
In related news, Chairman Andy D. Bryant sold 89,087 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.80, for a total value of $3,991,097.60. Following the completion of the transaction, the chairman now directly owns 428,789 shares in the company, valued at approximately $19,209,747.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $46.73, for a total value of $66,543.52. Following the completion of the transaction, the insider now owns 1,536 shares of the company’s stock, valued at $71,777.28. The disclosure for this sale can be found here. Insiders have sold a total of 659,036 shares of company stock valued at $28,872,880 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Shares of Intel Corporation (NASDAQ INTC) opened at $44.63 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.60 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $213,640.00, a PE ratio of 14.42, a P/E/G ratio of 1.68 and a beta of 1.09. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $47.30.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.21. The firm had revenue of $16.15 billion during the quarter, compared to analyst estimates of $15.73 billion. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. analysts anticipate that Intel Corporation will post 3.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.2725 per share. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.44%. Intel Corporation’s payout ratio is currently 38.25%.
Several research firms recently issued reports on INTC. B. Riley reaffirmed a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a report on Friday, July 28th. Canaccord Genuity upped their price target on shares of Intel Corporation from $41.00 to $45.00 and gave the company a “hold” rating in a report on Friday. Summit Redstone reaffirmed a “hold” rating on shares of Intel Corporation in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $34.00 price target on shares of Intel Corporation in a report on Sunday, July 30th. Finally, BidaskClub cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.40.
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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