Trade Report: Today, Somerville Kurt F reached $11,151,000 position of Intel Corp. (INTC)

Today, Somerville Kurt F reached $11,151,000 position  of Intel Corp. (INTC)

Somerville Kurt F raised its position in shares of Intel Corp. (NASDAQ:INTC) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 340,030 shares of the chip maker’s stock after buying an additional 3,700 shares during the period. Intel Corp. accounts for approximately 2.5% of Somerville Kurt F’s holdings, making the stock its 15th largest position. Somerville Kurt F’s holdings in Intel Corp. were worth $11,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTC. Wilbanks Smith & Thomas Asset Management LLC raised its position in Intel Corp. by 4.8% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,754 shares of the chip maker’s stock worth $1,448,000 after buying an additional 2,039 shares during the last quarter. IMS Capital Management raised its position in Intel Corp. by 48.5% in the first quarter. IMS Capital Management now owns 63,965 shares of the chip maker’s stock worth $2,069,000 after buying an additional 20,898 shares during the last quarter. PacWest Financial Management Inc raised its position in Intel Corp. by 13.2% in the first quarter. PacWest Financial Management Inc now owns 98,033 shares of the chip maker’s stock worth $3,171,000 after buying an additional 11,451 shares during the last quarter. DAVENPORT & Co LLC raised its position in Intel Corp. by 6.1% in the first quarter. DAVENPORT & Co LLC now owns 163,973 shares of the chip maker’s stock worth $5,305,000 after buying an additional 9,428 shares during the last quarter. Finally, Acropolis Investment Management LLC raised its position in Intel Corp. by 2.6% in the first quarter. Acropolis Investment Management LLC now owns 112,367 shares of the chip maker’s stock worth $3,590,000 after buying an additional 2,890 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Shares of Intel Corp. (NASDAQ:INTC) traded up 1.620% during midday trading on Tuesday, hitting $37.894. The stock had a trading volume of 4,371,772 shares. The stock has a market cap of $179.28 billion, a PE ratio of 18.377 and a beta of 1.09. The firm has a 50 day moving average price of $36.92 and a 200 day moving average price of $33.70. Intel Corp. has a one year low of $27.68 and a one year high of $38.36.

Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period last year, the business posted $0.55 EPS. Intel Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Intel Corp. will post $2.58 earnings per share for the current fiscal 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.

INTC has been the topic of several research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $26.00 price objective on shares of Intel Corp. in a research report on Monday, June 20th. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, June 21st. Vetr lowered shares of Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 price objective on the stock. in a research report on Wednesday, June 22nd. Argus reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research report on Wednesday, June 29th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.

In other Intel Corp. news, CEO Brian M. Krzanich sold 67,508 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of 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. Corporate insiders own 0.09% of the company’s stock.

Intel Corp. Company Profile

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