Academy Capital Management Inc. TX lowered its position in shares of Intel Corp. (NASDAQ:INTC) by 96.2% during the second quarter, Holdings Channel reports. The firm owned 6,009 shares of the chip maker’s stock after selling 152,037 shares during the period. Academy Capital Management Inc. TX’s holdings in Intel Corp. were worth $214,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Institutional Capital LLC raised its position in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Intel Corp. during the first quarter worth approximately $132,302,000. Natixis raised its position in Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock worth $97,244,000 after buying an additional 2,816,554 shares during the period. Geode Capital Management LLC raised its position in Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares during the period. Finally, Primecap Management Co. CA raised its position in Intel Corp. by 6.0% in the first quarter. Primecap Management Co. CA now owns 31,713,985 shares of the chip maker’s stock worth $1,025,947,000 after buying an additional 1,808,825 shares during the period. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.08% during mid-day trading on Friday, reaching $38.10. 16,942,539 shares of the company were exchanged. The stock has a market capitalization of $180.25 billion, a P/E ratio of 18.48 and a beta of 1.09. The stock has a 50 day moving average price of $36.55 and a 200-day moving average price of $33.47. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.31.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Analysts predict that Intel Corp. will post $2.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 yield of 2.73%. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.
INTC has been the subject of a number of recent analyst reports. Cowen and Company restated a “market perform” rating and set a $36.00 price target (up from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Evercore ISI upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, September 6th. Vetr upgraded shares of Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 price target for the company in a research report on Monday, September 26th. Royal Bank Of Canada upped their target price on shares of Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 8th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $36.00 target price on shares of Intel Corp. in a research report on Wednesday, August 31st. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.59.
In other Intel Corp. news, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, the vice president now directly 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 currently owned by corporate 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.