Marshall Wace LLP bought a new position in shares of Intel Corporation (NASDAQ:INTC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 377,000 shares of the chip maker’s stock, valued at approximately $12,818,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Summit Asset Management LLC grew its holdings in shares of Intel Corporation by 0.7% in the 1st quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock worth $227,000 after acquiring an additional 46 shares during the period. Conservest Capital Advisors Inc. grew its holdings in shares of Intel Corporation by 0.6% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock worth $302,000 after acquiring an additional 51 shares during the period. Bank of Stockton grew its holdings in shares of Intel Corporation by 0.4% in the 2nd quarter. Bank of Stockton now owns 16,321 shares of the chip maker’s stock worth $550,000 after acquiring an additional 72 shares during the period. Benin Management CORP grew its holdings in shares of Intel Corporation by 0.3% in the 2nd quarter. Benin Management CORP now owns 26,055 shares of the chip maker’s stock worth $879,000 after acquiring an additional 84 shares during the period. Finally, Lourd Capital LLC grew its holdings in shares of Intel Corporation by 1.1% in the 1st quarter. Lourd Capital LLC now owns 9,094 shares of the chip maker’s stock worth $328,000 after acquiring an additional 99 shares during the period. Institutional investors own 67.17% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Canaccord Genuity upped their price target on Intel Corporation from $41.00 to $45.00 and gave the stock a “hold” rating in a report on Friday. Barclays PLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Intel Corporation in a research note on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price on shares of Intel Corporation in a research note on Wednesday, November 1st. Sanford C. Bernstein set a $34.00 target price on Intel Corporation and gave the company a “sell” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets raised Intel Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, October 30th. 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 issued a strong buy rating to the company’s stock. Intel Corporation currently has a consensus rating of “Buy” and an average price target of $43.40.
Intel Corporation (NASDAQ:INTC) last issued its 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 firm had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $15.73 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. equities research analysts forecast that Intel Corporation will post 3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is presently 38.11%.
In other news, CEO Brian M. Krzanich sold 61,860 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 543,948 shares of the company’s stock, valued at $21,072,545.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane M. Bryant sold 1,639 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $40.91, for a total transaction of $67,051.49. Following the sale, the executive vice president now directly owns 113,086 shares of the company’s stock, valued at approximately $4,626,348.26. The disclosure for this sale can be found here. Insiders sold 659,036 shares of company stock valued at $28,872,880 in the last ninety days. Insiders own 0.08% of the company’s stock.
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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