Brighton Jones LLC lowered its stake in Intel Corp. (NASDAQ:INTC) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 120,034 shares of the chip maker’s stock after selling 77 shares during the period. Intel Corp. accounts for about 0.7% of Brighton Jones LLC’s investment portfolio, making the stock its 22nd largest position. Brighton Jones LLC’s holdings in Intel Corp. were worth $3,937,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. Carnick & Kubik LLC acquired a new position in shares of Intel Corp. during the first quarter worth about $100,000. Proficio Capital Partners LLC increased its position in shares of Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares in the last quarter. Parasol Investment Management LLC increased its position 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 increased its position 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. Finally, D. Scott Neal Inc. increased its position 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. 64.77% of the stock is currently owned by hedge funds and other institutional investors.

Intel Corp. (NASDAQ:INTC) traded up 3.04% on Friday, hitting $37.67. 74,577,899 shares of the company were exchanged. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.05. The company has a market capitalization of $178.22 billion, a P/E ratio of 18.27 and a beta of 0.93. The firm’s 50 day moving average is $35.26 and its 200 day moving average is $32.70.

Intel Corp. (NASDAQ:INTC) last posted its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Intel Corp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Intel Corp. will post $2.54 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 given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.76%. Intel Corp.’s payout ratio is 50.24%.

INTC has been the topic of a number of recent analyst reports. Wells Fargo & Co. reissued a “buy” rating on shares of Intel Corp. in a research note on Wednesday, June 8th. Vetr downgraded Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $34.92 price objective on the stock. in a research note on Wednesday, June 8th. Sterne Agee CRT reissued a “buy” rating and issued a $38.00 price objective on shares of Intel Corp. in a research note on Tuesday, May 31st. Zacks Investment Research raised Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, June 21st. Finally, Argus reissued a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research note on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty have assigned a buy rating to the company’s stock. Intel Corp. has an average rating of “Buy” and an average target price of $37.84.

In other Intel Corp. news, VP Gregory R. Pearson sold 5,662 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $34.87, for a total value of $197,433.94. Following the completion of the transaction, the vice president now owns 86,635 shares of the company’s stock, valued at $3,020,962.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gregory R. Pearson sold 250,192 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the completion of the transaction, the vice president now directly owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.

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