BARING ASSET MANAGEMENT Ltd reduced its position in shares of Intel Corp. (NASDAQ:INTC) by 49.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,832 shares of the chip maker’s stock after selling 7,727 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Intel Corp. were worth $257,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Carnick & Kubik LLC purchased a new stake in shares of Intel Corp. during the first quarter worth about $100,000. Parasol Investment Management LLC raised its stake in shares of Intel Corp. by 34.3% in the second quarter. Parasol Investment Management LLC now owns 3,990 shares of the chip maker’s stock worth $131,000 after buying an additional 1,020 shares in the last quarter. American National Bank raised its stake in shares of Intel Corp. by 103.2% in the second quarter. American National Bank now owns 4,459 shares of the chip maker’s stock worth $146,000 after buying an additional 2,265 shares in the last quarter. D. Scott Neal Inc. raised 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 in the last quarter. Finally, CapWealth Advisors LLC raised its stake in shares of Intel Corp. by 43.9% in the first quarter. CapWealth Advisors LLC now owns 5,493 shares of the chip maker’s stock worth $178,000 after buying an additional 1,676 shares in the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intel Corp. (NASDAQ:INTC) traded up 1.30% during mid-day trading on Friday, hitting $37.45. The stock had a trading volume of 19,123,944 shares. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The firm has a market cap of $177.18 billion, a PE ratio of 18.16 and a beta of 1.09. The stock’s 50-day moving average price is $36.86 and its 200-day moving average price is $33.65.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data 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. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. Intel Corp.’s dividend payout ratio is currently 50.24%.
A number of equities research analysts recently issued reports on the company. Citigroup Inc. reissued a “neutral” rating and issued a $35.00 target price (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 target price on Intel Corp. and gave the company a “neutral” rating in a research report on Friday, July 22nd. Argus reissued a “buy” rating and issued a $41.00 target price on shares of Intel Corp. in a research report on Monday, July 25th. Finally, Vetr lowered Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 target price on the stock. in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $39.73.
In other news, CFO Stacy J. Smith sold 29,497 shares of Intel Corp. stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.47, for a total value of $1,016,761.59. Following the transaction, the chief financial officer now owns 263,772 shares in the company, valued at $9,092,220.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Intel Corp. Company Profile
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.