iAB Financial Bank Cuts Stake in Intel Corporation (INTC)
iAB Financial Bank lessened its stake in shares of Intel Corporation (NASDAQ:INTC) by 0.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 62,139 shares of the chip maker’s stock after selling 133 shares during the quarter. Intel Corporation comprises about 1.0% of iAB Financial Bank’s portfolio, making the stock its 27th largest holding. iAB Financial Bank’s holdings in Intel Corporation were worth $2,097,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of INTC. Watermark Asset Management Inc. bought a new position in Intel Corporation during the first quarter worth about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position 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 during the period. Vigilant Capital Management LLC increased its position 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 during the period. Orrstown Financial Services Inc. increased its position in Intel Corporation by 23.0% during the second quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock worth $155,000 after acquiring an additional 857 shares during the period. Finally, Winfield Associates Inc. increased its position in Intel Corporation by 6.0% during the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after acquiring an additional 265 shares during the period. Institutional investors own 66.90% of the company’s stock.
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A number of equities analysts recently commented on INTC shares. BidaskClub raised shares of Intel Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Intel Corporation in a research report on Friday, July 28th. Northland Securities set a $40.00 price target on shares of Intel Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Loop Capital reaffirmed a “buy” rating and set a $45.00 price target (up from $43.00) on shares of Intel Corporation in a research report on Friday, July 28th. Finally, Jefferies Group LLC reissued an “underperform” rating and issued a $30.00 target price (up from $29.00) on shares of Intel Corporation in a report on Friday, July 28th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Intel Corporation presently has a consensus rating of “Buy” and a consensus target price of $43.40.
In other Intel Corporation news, insider Stacy J. Smith sold 472,337 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.23, for a total transaction of $20,891,465.51. Following the sale, the insider now directly owns 265,298 shares of the company’s stock, valued at $11,734,130.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $2,396,456.40. Following the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at $21,072,545.52. The disclosure for this sale can be found here. Insiders sold a total of 659,036 shares of company stock worth $28,872,880 over the last three months. 0.08% of the stock is owned by insiders.
Intel Corporation (NASDAQ INTC) opened at $44.63 on Monday. 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 firm has a market cap of $208,868.41, a PE ratio of 14.03, a P/E/G ratio of 1.63 and a beta of 1.09. Intel Corporation has a fifty-two week low of $33.23 and a fifty-two week high of $47.30.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.21. The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. analysts predict that Intel Corporation will post 3.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors 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 2.44%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is currently 38.11%.
Intel Corporation Company Profile
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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