Empirical Financial Services LLC cut its position in shares of Intel Corporation (NASDAQ:INTC) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,342 shares of the chip maker’s stock after selling 324 shares during the quarter. Empirical Financial Services LLC’s holdings in Intel were worth $1,327,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Murphy Capital Management Inc. boosted its position in shares of Intel by 18.4% in the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock worth $1,070,000 after acquiring an additional 4,928 shares during the last quarter. Papp L Roy & Associates lifted its position in Intel by 1.2% during the second quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock valued at $2,297,000 after buying an additional 800 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in Intel during the second quarter valued at approximately $555,000. United Bank lifted its position in Intel by 108.0% during the second quarter. United Bank now owns 43,841 shares of the chip maker’s stock valued at $1,479,000 after buying an additional 22,765 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in Intel by 182.1% during the second quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock valued at $530,000 after buying an additional 9,746 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.
A number of research analysts have weighed in on the stock. Sanford C. Bernstein set a $30.00 price target on shares of Intel and gave the company a “sell” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $40.00 price target (up from $37.00) on shares of Intel in a research report on Friday, October 6th. KeyCorp reaffirmed a “buy” rating and set a $50.00 price target on shares of Intel in a research report on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Intel in a research report on Friday, October 27th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $45.00 price target on shares of Intel in a research report on Friday, October 27th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $43.68.
In related news, CEO Brian M. Krzanich sold 889,878 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian M. Krzanich sold 61,860 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 543,948 shares of the company’s stock, valued at approximately $21,072,545.52. The disclosure for this sale can be found here. Insiders sold a total of 1,548,914 shares of company stock worth $68,196,589 in the last quarter. 0.08% of the stock is owned by corporate insiders.
Intel Corporation (NASDAQ INTC) opened at $43.45 on Thursday. The firm has a market capitalization of $203,299.19, a PE ratio of 13.66, a PEG ratio of 1.59 and a beta of 1.06. Intel Corporation has a twelve month low of $33.23 and a twelve month high of $47.30. The company has a quick ratio of 1.27, a current ratio of 1.60 and a debt-to-equity ratio of 0.39.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 had a return on equity of 22.65% and a net margin of 22.31%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. sell-side analysts forecast that Intel Corporation will post 3.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.51%. Intel’s dividend payout ratio is 38.11%.
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Intel 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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