PGGM Investments Trims Holdings in Intel Corporation (INTC)

PGGM Investments lowered its position in Intel Corporation (NASDAQ:INTC) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,241,609 shares of the chip maker’s stock after selling 27,958 shares during the quarter. PGGM Investments owned approximately 1.02% of Intel Corporation worth $143,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Glenview Capital Management LLC purchased a new stake in Intel Corporation in the first quarter valued at approximately $177,881,000. DnB Asset Management AS lifted its stake in Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after buying an additional 4,713,168 shares during the last quarter. Gotham Asset Management LLC lifted its stake in Intel Corporation by 112.1% in the first quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock valued at $62,804,000 after buying an additional 920,285 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock valued at $300,238,000 after buying an additional 882,905 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in Intel Corporation by 87.0% in the first quarter. WINTON GROUP Ltd now owns 1,856,380 shares of the chip maker’s stock valued at $70,078,000 after buying an additional 863,659 shares during the last quarter. Institutional investors own 67.09% of the company’s stock.

Shares of Intel Corporation (INTC) traded up 2.117% during mid-day trading on Monday, reaching $35.935. The company’s stock had a trading volume of 7,367,904 shares. The firm has a market capitalization of $168.86 billion, a P/E ratio of 13.716 and a beta of 1.02. The company has a 50 day moving average of $35.43 and a 200-day moving average of $35.51. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45.

Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts forecast that Intel Corporation will post $3.01 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, August 3rd. Intel Corporation’s payout ratio is presently 41.76%.

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In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock worth $3,130,162 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

A number of brokerages have weighed in on INTC. Zacks Investment Research upgraded Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, September 6th. Robert W. Baird restated an “outperform” rating and set a $45.00 price target on shares of Intel Corporation in a research note on Tuesday, September 5th. ValuEngine cut Intel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada restated a “sector perform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Finally, Credit Suisse Group restated an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $40.55.

Intel Corporation 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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Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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