Pzena Investment Management LLC Buys 94,533 Shares of Intel Corporation (INTC)
Pzena Investment Management LLC grew its stake in Intel Corporation (NASDAQ:INTC) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,490,243 shares of the chip maker’s stock after purchasing an additional 94,533 shares during the period. Intel Corporation makes up approximately 1.6% of Pzena Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Pzena Investment Management LLC owned about 0.18% of Intel Corporation worth $286,461,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in INTC. Mosaic Family Wealth LLC grew its holdings in Intel Corporation by 11.8% during the second quarter. Mosaic Family Wealth LLC now owns 24,556 shares of the chip maker’s stock worth $829,000 after acquiring an additional 2,601 shares during the period. Truepoint Inc. grew its holdings in Intel Corporation by 1.5% during the second quarter. Truepoint Inc. now owns 15,208 shares of the chip maker’s stock worth $557,000 after acquiring an additional 222 shares during the period. Cadence Capital Management LLC grew its holdings in Intel Corporation by 3.9% during the second quarter. Cadence Capital Management LLC now owns 377,888 shares of the chip maker’s stock worth $12,750,000 after acquiring an additional 14,160 shares during the period. Apriem Advisors grew its holdings in Intel Corporation by 6.5% during the second quarter. Apriem Advisors now owns 8,113 shares of the chip maker’s stock worth $274,000 after acquiring an additional 492 shares during the period. Finally, Montag A & Associates Inc. grew its holdings in Intel Corporation by 1.3% during the second quarter. Montag A & Associates Inc. now owns 80,550 shares of the chip maker’s stock worth $2,718,000 after acquiring an additional 1,024 shares during the period. 66.90% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed an “underperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Intel Corporation in a report on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 target price on Intel Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 target price (up from $37.00) on shares of Intel Corporation in a research report on Friday, October 6th. KeyCorp reiterated a “buy” rating and set a $50.00 target price on shares of Intel Corporation in a research report on Friday, October 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a research report on Friday, October 27th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.40.
In related news, Chairman Andy D. Bryant sold 89,087 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.80, for a total value of $3,991,097.60. Following the sale, the chairman now owns 428,789 shares of the company’s stock, valued at approximately $19,209,747.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. The disclosure for this sale can be found here. In the last three months, insiders sold 659,036 shares of company stock worth $28,872,880. Company insiders own 0.08% of the company’s stock.
Intel Corporation (NASDAQ:INTC) opened at $44.62 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $47.30. The company has a market capitalization of $209,220.00, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. sell-side analysts expect that Intel Corporation will post 3.25 earnings per share for the current year.
The business 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 $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is 38.25%.
Intel Corporation Company Profile
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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