Patten & Patten Inc. TN raised its position in Intel Corporation (NASDAQ:INTC) by 10.6% during the second quarter, Holdings Channel reports. The fund owned 352,724 shares of the chip maker’s stock after buying an additional 33,911 shares during the period. Intel Corporation accounts for 1.3% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 17th largest position. Patten & Patten Inc. TN’s holdings in Intel Corporation were worth $11,901,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of INTC. Lebenthal Asset Management LLC increased its stake in shares of Intel Corporation by 0.5% in the fourth quarter. Lebenthal Asset Management LLC now owns 257,838 shares of the chip maker’s stock valued at $9,352,000 after buying an additional 1,346 shares in the last quarter. RB Capital Management LLC purchased a new stake in shares of Intel Corporation during the fourth quarter valued at approximately $858,000. Narus Financial Partners LLC purchased a new stake in shares of Intel Corporation during the fourth quarter valued at approximately $295,000. Pinnacle Financial Partners Inc. increased its stake in shares of Intel Corporation by 7.1% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 176,010 shares of the chip maker’s stock valued at $6,383,000 after buying an additional 11,706 shares in the last quarter. Finally, Capital Guardian Trust Co. increased its stake in shares of Intel Corporation by 13.0% in the fourth quarter. Capital Guardian Trust Co. now owns 62,985 shares of the chip maker’s stock valued at $2,284,000 after buying an additional 7,255 shares in the last quarter. Hedge funds and other institutional investors own 67.50% of the company’s stock.

Intel Corporation (NASDAQ:INTC) traded down 0.38% during trading on Thursday, reaching $36.45. 8,485,467 shares of the company traded hands. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The company has a market capitalization of $171.28 billion, a P/E ratio of 13.91 and a beta of 1.01. The firm has a 50-day moving average price of $34.75 and a 200-day moving average price of $35.72.

Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s dividend payout ratio is presently 41.76%.

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INTC has been the subject of several research reports. Zacks Investment Research downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Royal Bank Of Canada restated a “hold” rating and issued a $37.00 target price on shares of Intel Corporation in a research note on Monday, April 17th. Wells Fargo & Company restated an “outperform” rating and issued a $45.00 target price on shares of Intel Corporation in a research note on Wednesday, April 19th. Vetr downgraded Intel Corporation from a “hold” rating to a “sell” rating and set a $35.07 price target for the company. in a research note on Thursday, April 20th. Finally, Sanford C. Bernstein reiterated a “sell” rating on shares of Intel Corporation in a research note on Tuesday, April 25th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Intel Corporation presently has an average rating of “Hold” and an average target price of $40.55.

In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 1,536 shares in the company, valued at $55,910.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction 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 transaction, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Insiders have sold 91,921 shares of company stock valued at $3,130,162 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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