Washington Trust Bank boosted its position in shares of Intel Co. (NASDAQ:INTC) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,887 shares of the chip maker’s stock after acquiring an additional 2,268 shares during the period. Washington Trust Bank’s holdings in Intel were worth $1,489,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Intel by 2.9% in the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock valued at $16,852,495,000 after acquiring an additional 8,659,315 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intel by 4.1% in the first quarter. Geode Capital Management LLC now owns 71,885,174 shares of the chip maker’s stock valued at $3,884,421,000 after acquiring an additional 2,854,177 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Intel by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock valued at $2,207,470,000 after acquiring an additional 2,709,735 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Intel by 45.2% in the first quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock valued at $2,122,927,000 after purchasing an additional 12,217,997 shares during the last quarter. Finally, Morgan Stanley grew its stake in Intel by 3.8% in the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock valued at $1,645,971,000 after purchasing an additional 1,108,810 shares during the last quarter. 64.95% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:INTC opened at $47.73 on Friday. Intel Co. has a 12-month low of $43.63 and a 12-month high of $69.29. The company has a market capitalization of $203.00 billion, a PE ratio of 8.49, a PEG ratio of 1.31 and a beta of 0.78. The business has a 50 day moving average of $58.00 and a two-hundred day moving average of $59.19. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The company had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. During the same period in the previous year, the company posted $1.06 earnings per share. Equities research analysts predict that Intel Co. will post 4.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 6th. Intel’s payout ratio is presently 27.10%.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. set a $80.00 target price on Intel and gave the company a “buy” rating in a research note on Friday, April 24th. Sanford C. Bernstein lowered Intel from a “market perform” rating to an “underperform” rating and set a $45.00 target price on the stock. in a research note on Friday, July 24th. Cowen cut their target price on Intel from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Northland Securities lowered Intel from a “market perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Friday, July 24th. Finally, Goldman Sachs Group reiterated a “sell” rating and issued a $46.00 target price on shares of Intel in a research note on Monday, July 27th. Twelve analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.67.
In other Intel news, CEO Robert Holmes Swan bought 8,021 shares of Intel stock in a transaction dated Friday, July 24th. The stock was acquired at an average cost of $50.00 per share, with a total value of $401,050.00. Following the purchase, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Navin Shenoy sold 7,018 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total value of $419,886.94. Following the transaction, the executive vice president now directly owns 68,942 shares of the company’s stock, valued at $4,124,799.86. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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