Intel Corporation (INTC) Stake Lessened by Leavell Investment Management Inc.
Leavell Investment Management Inc. cut its holdings in Intel Corporation (NASDAQ:INTC) by 20.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,214 shares of the chip maker’s stock after selling 20,725 shares during the period. Leavell Investment Management Inc.’s holdings in Intel Corporation were worth $2,639,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in INTC. Watermark Asset Management Inc. purchased a new stake in Intel Corporation during the first quarter worth about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of 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 purchasing an additional 1,400 shares in the last quarter. Vigilant Capital Management LLC increased its stake in shares of 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 purchasing an additional 805 shares in the last quarter. Farmers National Bank raised its position in shares of 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 purchasing an additional 234 shares during the period. Finally, ARP Americas LLC bought a new stake in shares of Intel Corporation in the first quarter valued at approximately $202,000. 67.03% of the stock is owned by institutional investors.
In other Intel Corporation news, CEO Brian M. Krzanich sold 61,860 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the completion of the transaction, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $34.68, for a total transaction of $73,486.92. Following the transaction, the executive vice president now owns 108,471 shares of the company’s stock, valued at $3,761,774.28. The disclosure for this sale can be found here. Insiders have sold a total of 81,608 shares of company stock valued at $3,095,110 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Shares of Intel Corporation (NASDAQ INTC) traded down 0.41% during midday trading on Wednesday, reaching $39.22. 17,045,797 shares of the company’s stock traded hands. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $39.70. The company has a market capitalization of $184.29 billion, a PE ratio of 14.97 and a beta of 1.07. The stock’s 50 day moving average is $36.15 and its 200-day moving average is $35.70. Intel Corporation also saw unusually large options trading on Monday. Traders bought 65,675 call options on the company. This represents an increase of 250% compared to the average volume of 18,768 call options.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. Intel Corporation’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. 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 presently 41.76%.
A number of analysts recently issued reports on the company. Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $42.80 price objective on the stock. in a research note on Tuesday. ValuEngine raised shares of Intel Corporation from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. J P Morgan Chase & Co restated an “overweight” rating on shares of Intel Corporation in a research report on Thursday, September 14th. Finally, Canaccord Genuity restated a “hold” rating and issued a $38.00 target price on shares of Intel Corporation in a research report on Monday, September 11th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.51.
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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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