The Kanaly Trust Co lowers its Position in Intel Corp. (INTC)

The Kanaly Trust Co lowers its Position in Intel Corp. (INTC)

Kanaly Trust Co lowered its stake in shares of Intel Corp. (NASDAQ:INTC) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 9,570 shares of the chip maker’s stock after selling 195 shares during the period. Kanaly Trust Co’s holdings in Intel Corp. were worth $314,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in INTC. D. Scott Neal Inc. increased its stake in shares of Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock worth $163,000 after buying an additional 35 shares during the last quarter. Accredited Investors Inc. increased its stake in shares of Intel Corp. by 0.4% in the first quarter. Accredited Investors Inc. now owns 20,443 shares of the chip maker’s stock worth $661,000 after buying an additional 73 shares during the last quarter. Fruth Investment Management increased its stake in shares of Intel Corp. by 0.6% in the second quarter. Fruth Investment Management now owns 13,489 shares of the chip maker’s stock worth $442,000 after buying an additional 75 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of Intel Corp. by 0.4% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 25,885 shares of the chip maker’s stock worth $849,000 after buying an additional 100 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Intel Corp. by 0.4% in the second quarter. Carroll Financial Associates Inc. now owns 24,046 shares of the chip maker’s stock worth $788,000 after buying an additional 102 shares during the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.

Intel Corp. (NASDAQ:INTC) traded down 0.38% during mid-day trading on Wednesday, reaching $37.13. The company had a trading volume of 14,053,261 shares. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The firm’s 50 day moving average price is $36.69 and its 200-day moving average price is $33.56. The company has a market capitalization of $175.66 billion, a price-to-earnings ratio of 18.01 and a beta of 1.09.

Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the previous year, the firm posted $0.55 EPS. Intel Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. Intel Corp.’s dividend payout ratio is currently 50.24%.

INTC has been the topic of a number of recent analyst reports. Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 target price (up from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Intel Corp. in a research note on Thursday, July 21st. BNP Paribas set a $37.00 target price on shares of Intel Corp. and gave the company a “neutral” rating in a research note on Friday, July 22nd. Argus reaffirmed a “buy” rating and issued a $41.00 target price on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Vetr downgraded shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $33.56 target price on the stock. in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.66.

In other news, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Andy D. Bryant sold 445,095 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the transaction, the chairman now directly owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

About Intel Corp.

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

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