Chesley Taft & Associates LLC Has $9.90 Million Position in Intel Corporation (INTC)
Chesley Taft & Associates LLC reduced its holdings in Intel Corporation (NASDAQ:INTC) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,293 shares of the chip maker’s stock after selling 3,208 shares during the period. Chesley Taft & Associates LLC’s holdings in Intel Corporation were worth $9,896,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Watermark Asset Management Inc. acquired a new position in Intel Corporation in the first quarter valued at approximately $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings 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 valued at $146,000 after buying an additional 1,400 shares during the period. Vigilant Capital Management LLC lifted its holdings 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 valued at $158,000 after buying an additional 805 shares during the period. Farmers National Bank lifted its holdings in Intel Corporation by 5.1% in the first quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock valued at $183,000 after buying an additional 234 shares during the period. Finally, ARP Americas LLC acquired a new position in Intel Corporation in the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 67.03% of the company’s stock.
Several equities analysts recently weighed in on INTC shares. Zacks Investment Research upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, September 6th. ValuEngine lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective on the stock in a report on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Finally, BidaskClub raised shares of Intel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.51.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’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 value of $51,833.60. Following 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 SEC, which can be accessed through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,608 shares of company stock worth $3,095,110. 0.08% of the stock is owned by company insiders.
Shares of Intel Corporation (NASDAQ:INTC) traded up 0.28% during midday trading on Thursday, hitting $39.45. 9,789,874 shares of the company traded hands. The stock has a 50 day moving average of $36.25 and a 200-day moving average of $35.73. The stock has a market capitalization of $185.38 billion, a PE ratio of 15.06 and a beta of 1.07. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $39.70. Intel Corporation also saw unusually large options trading activity on Monday. Traders acquired 65,675 call options on the stock. This represents an increase of 250% compared to the average volume of 18,768 call options.
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 Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion for 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%. Intel Corporation’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. Equities 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, December 1st. Investors of record on Tuesday, November 7th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is 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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