Wellington Shields Capital Management LLC Increases Position in Intel Corporation (INTC)
Wellington Shields Capital Management LLC increased its holdings in shares of Intel Corporation (NASDAQ:INTC) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,041 shares of the chip maker’s stock after purchasing an additional 950 shares during the period. Wellington Shields Capital Management LLC’s holdings in Intel Corporation were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in INTC. Glenview Capital Management LLC acquired a new stake in shares of Intel Corporation in the 1st quarter valued at about $177,881,000. DnB Asset Management AS raised its stake in shares of Intel Corporation by 654.3% in the 1st quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after purchasing an additional 4,713,168 shares in the last quarter. Gotham Asset Management LLC raised its stake in shares of Intel Corporation by 112.1% in the 1st quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock valued at $62,804,000 after purchasing an additional 920,285 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Intel Corporation by 11.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock valued at $300,238,000 after purchasing an additional 882,905 shares in the last quarter. Finally, WINTON GROUP Ltd raised its stake in shares of Intel Corporation by 87.0% in the 1st quarter. WINTON GROUP Ltd now owns 1,856,380 shares of the chip maker’s stock valued at $70,078,000 after purchasing an additional 863,659 shares in the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on INTC shares. Canaccord Genuity restated a “hold” rating on shares of Intel Corporation in a research note on Saturday, June 3rd. Jefferies Group LLC set a $38.00 price objective on shares of Intel Corporation and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Zacks Investment Research lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price objective on the stock in a research note on Monday, June 12th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Intel Corporation in a research note on Friday, June 16th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.54.
In other news, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now owns 1,536 shares in the company, valued at $55,910.40. The disclosure for this sale can be found here. Insiders sold a total of 91,921 shares of company stock worth $3,130,162 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
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Shares of Intel Corporation (NASDAQ INTC) traded up 0.05% during trading on Thursday, hitting $37.09. 6,524,275 shares of the stock traded hands. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The stock has a 50 day moving average price of $35.74 and a 200-day moving average price of $35.53. The stock has a market cap of $174.29 billion, a price-to-earnings ratio of 14.16 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts forecast that Intel Corporation will post $3.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 41.76%.
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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