Daiwa Securities Group Inc. Sells 71,067 Shares of Intel Corporation (INTC)
Daiwa Securities Group Inc. decreased its position in Intel Corporation (NASDAQ:INTC) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,851 shares of the chip maker’s stock after selling 71,067 shares during the quarter. Daiwa Securities Group Inc. owned 0.09% of Intel Corporation worth $12,884,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of INTC. Summit Asset Management LLC grew its position in shares of Intel Corporation by 0.7% during the first quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock worth $227,000 after buying an additional 46 shares in the last quarter. Conservest Capital Advisors Inc. grew its position in shares of Intel Corporation by 0.6% during the second quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock worth $302,000 after buying an additional 51 shares in the last quarter. Hudock Capital Group LLC grew its position in shares of Intel Corporation by 0.4% during the first quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock worth $453,000 after buying an additional 53 shares in the last quarter. Benin Management CORP grew its position in shares of Intel Corporation by 0.3% during the second quarter. Benin Management CORP now owns 26,055 shares of the chip maker’s stock worth $879,000 after buying an additional 84 shares in the last quarter. Finally, Access Financial Services Inc. grew its position in shares of Intel Corporation by 0.4% during the second quarter. Access Financial Services Inc. now owns 21,480 shares of the chip maker’s stock worth $725,000 after buying an additional 90 shares in the last quarter. 67.02% of the stock is owned by institutional investors.
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Shares of Intel Corporation (NASDAQ INTC) opened at 40.43 on Friday. The company has a market capitalization of $189.98 billion, a PE ratio of 15.43 and a beta of 1.07. The stock’s 50 day moving average price is $37.91 and its 200-day moving average price is $36.09. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $40.45.
Intel Corporation (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that Intel Corporation will post $3.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a dividend of $0.2725 per share. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a yield of 2.70%. Intel Corporation’s payout ratio is currently 41.76%.
In related news, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of Intel Corporation stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.74, for a total value of $2,396,456.40. Following the sale, the chief executive officer now directly owns 543,948 shares of the company’s stock, valued at $21,072,545.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,608 shares of company stock valued at $3,095,110. 0.08% of the stock is currently owned by insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, September 6th. ValuEngine downgraded shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Vetr raised shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective for the company in a report on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Intel Corporation in a report on Thursday, August 31st. Finally, BidaskClub raised shares of Intel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Intel Corporation presently has a consensus rating of “Hold” and a consensus target price of $41.24.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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