Intel Corporation (INTC) Shares Sold by Harris Associates L P
Harris Associates L P cut its stake in Intel Corporation (NASDAQ:INTC) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,325,138 shares of the chip maker’s stock after selling 179,179 shares during the period. Intel Corporation accounts for 1.3% of Harris Associates L P’s investment portfolio, making the stock its 23rd largest position. Harris Associates L P owned approximately 0.43% of Intel Corporation worth $733,128,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Intel Corporation by 1.0% in the first quarter. Fisher Asset Management LLC now owns 20,167,657 shares of the chip maker’s stock valued at $727,447,000 after buying an additional 207,118 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Intel Corporation by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 9,075,156 shares of the chip maker’s stock valued at $327,403,000 after buying an additional 68,534 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock valued at $300,238,000 after buying an additional 882,905 shares during the period. DnB Asset Management AS raised its stake in shares of Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after buying an additional 4,713,168 shares during the period. Finally, Thomaspartners Inc. raised its stake in shares of Intel Corporation by 8.3% in the first quarter. Thomaspartners Inc. now owns 5,396,337 shares of the chip maker’s stock valued at $194,646,000 after buying an additional 415,504 shares during the period. Institutional investors and hedge funds own 67.07% of the company’s stock.
Shares of Intel Corporation (INTC) traded up 0.06% on Friday, reaching $35.09. 12,821,972 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $35.31 and a 200 day moving average of $35.55. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The firm has a market capitalization of $164.89 billion, a P/E ratio of 13.39 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, equities research analysts predict that Intel Corporation will post $3.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a dividend of $0.2725 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.09 annualized dividend and a dividend yield of 3.11%. Intel Corporation’s dividend payout ratio is presently 41.76%.
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Several analysts have commented on INTC shares. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and issued a $39.00 price objective on shares of Intel Corporation in a report on Friday, July 14th. Bank of America Corporation lowered shares of Intel Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $38.00 in a report on Wednesday, June 21st. Credit Suisse Group restated a “neutral” rating and issued a $35.00 price objective on shares of Intel Corporation in a report on Tuesday, July 4th. Finally, ValuEngine lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Intel Corporation presently has an average rating of “Hold” and an average price target of $40.55.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the sale, the insider now owns 1,536 shares in the company, valued at approximately $55,910.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diane M. Bryant sold 1,639 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total transaction of $56,791.35. Following the sale, the executive vice president now owns 114,542 shares of the company’s stock, valued at approximately $3,968,880.30. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 in the last 90 days. Insiders own 0.08% of the company’s stock.
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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