Zions Bancorporation Reduces Position in Intel Corporation (NASDAQ:INTC)
Zions Bancorporation cut its position in shares of Intel Corporation (NASDAQ:INTC) by 24.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,635 shares of the chip maker’s stock after selling 16,930 shares during the period. Zions Bancorporation’s holdings in Intel Corporation were worth $1,933,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of INTC. Orrstown Financial Services Inc. raised its stake in Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares in the last quarter. Vigilant Capital Management LLC raised its stake in Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares in the last quarter. Security Asset Management acquired a new stake in Intel Corporation during the fourth quarter worth approximately $162,000. Finally, ARP Americas LLC acquired a new stake in Intel Corporation during the first quarter worth approximately $202,000. 67.31% of the stock is owned by institutional investors and hedge funds.
Shares of Intel Corporation (INTC) traded up 1.157% during trading on Monday, reaching $36.285. 3,055,457 shares of the company traded hands. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The stock has a market capitalization of $170.50 billion, a PE ratio of 13.849 and a beta of 1.01. The firm’s 50-day moving average is $34.84 and its 200-day moving average is $35.72.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the business posted $0.59 earnings per share. Intel Corporation’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 annualized dividend and a yield of 3.04%. Intel Corporation’s payout ratio is presently 41.76%.
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A number of analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $44.00 target price on shares of Intel Corporation in a report on Wednesday, May 3rd. Vetr raised shares of Intel Corporation from a “sell” rating to a “hold” rating and set a $35.44 target price for the company in a report on Monday, May 1st. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the stock a “hold” rating in a report on Saturday, June 3rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $45.00 target price on shares of Intel Corporation in a report on Wednesday, April 19th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $39.00 target price on shares of Intel Corporation in a report on Friday, April 28th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.55.
In other news, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Holmes Swan acquired 13,888 shares of the stock in a transaction dated Monday, June 5th. The stock was acquired at an average price of $36.31 per share, with a total value of $504,273.28. Following the completion of the acquisition, the chief financial officer now owns 8,774 shares in the company, valued at approximately $318,583.94. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 91,921 shares of company stock valued at $3,130,162. 0.09% of the stock is currently owned by company insiders.
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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