Westpac Banking Corp raised its stake in shares of Intel Co. (NASDAQ:INTC) by 12.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 821,261 shares of the chip maker’s stock after acquiring an additional 91,918 shares during the quarter. Westpac Banking Corp’s holdings in Intel were worth $39,314,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Delta Asset Management LLC TN increased its position in Intel by 0.9% in the second quarter. Delta Asset Management LLC TN now owns 23,170 shares of the chip maker’s stock worth $1,109,000 after purchasing an additional 200 shares during the period. Mount Vernon Associates Inc. MD increased its position in Intel by 0.4% in the second quarter. Mount Vernon Associates Inc. MD now owns 46,004 shares of the chip maker’s stock worth $2,202,000 after purchasing an additional 200 shares during the period. NTV Asset Management LLC increased its position in Intel by 0.7% in the second quarter. NTV Asset Management LLC now owns 28,219 shares of the chip maker’s stock worth $1,351,000 after purchasing an additional 208 shares during the period. Landsberg Bennett & Dubbaneh LLC increased its position in Intel by 3.0% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,066 shares of the chip maker’s stock worth $340,000 after purchasing an additional 209 shares during the period. Finally, Apriem Advisors increased its position in Intel by 3.1% in the fourth quarter. Apriem Advisors now owns 7,074 shares of the chip maker’s stock worth $332,000 after purchasing an additional 210 shares during the period. 66.46% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on INTC shares. Wedbush boosted their target price on Intel from $37.50 to $42.90 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Atlantic Securities started coverage on Intel in a research report on Monday, July 22nd. They set an “underweight” rating and a $38.00 target price for the company. Benchmark started coverage on Intel in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Sanford C. Bernstein restated a “sell” rating and set a $39.00 target price on shares of Intel in a research report on Friday, July 26th. Finally, Cascend Securities restated a “buy” rating and set a $65.00 target price (up from $55.00) on shares of Intel in a research report on Friday, July 26th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.19.

Shares of NASDAQ:INTC traded up $0.80 during trading on Friday, hitting $46.50. 22,701,800 shares of the company’s stock traded hands, compared to its average volume of 26,219,476. Intel Co. has a 52 week low of $42.36 and a 52 week high of $59.59. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $202.45 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88. The company has a 50-day moving average price of $48.85 and a 200-day moving average price of $50.18.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. During the same quarter in the previous year, the business posted $1.04 EPS. Intel’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that Intel Co. will post 4.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, August 6th. Intel’s dividend payout ratio (DPR) is presently 27.51%.

In other Intel news, EVP Navin Shenoy sold 8,552 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total value of $400,062.56. Following the sale, the executive vice president now owns 68,833 shares in the company, valued at approximately $3,220,007.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.92, for a total value of $127,758.28. The disclosure for this sale can be found here. Insiders sold a total of 36,524 shares of company stock worth $1,844,221 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Intel Company Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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