Sumitomo Life Insurance Co. boosted its holdings in Intel Corporation (NASDAQ:INTC) by 56.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 210,613 shares of the chip maker’s stock after buying an additional 75,982 shares during the period. Intel Corporation accounts for approximately 0.9% of Sumitomo Life Insurance Co.’s holdings, making the stock its 18th biggest position. Sumitomo Life Insurance Co. owned about 0.05% of Intel Corporation worth $7,106,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Murphy Capital Management Inc. grew its position in shares of Intel Corporation by 18.4% during the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after purchasing an additional 4,928 shares in the last quarter. Sigma Planning Corp grew its position in shares of Intel Corporation by 0.5% during the first quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock valued at $2,333,000 after purchasing an additional 335 shares in the last quarter. Stockman Wealth Management Inc. grew its position in shares of Intel Corporation by 2.3% during the first quarter. Stockman Wealth Management Inc. now owns 128,104 shares of the chip maker’s stock valued at $4,621,000 after purchasing an additional 2,903 shares in the last quarter. Pillar Pacific Capital Management LLC grew its position in shares of Intel Corporation by 0.4% during the first quarter. Pillar Pacific Capital Management LLC now owns 235,734 shares of the chip maker’s stock valued at $8,503,000 after purchasing an additional 930 shares in the last quarter. Finally, GFS Advisors LLC grew its position in shares of Intel Corporation by 9.2% during the first quarter. GFS Advisors LLC now owns 114,035 shares of the chip maker’s stock valued at $4,114,000 after purchasing an additional 9,635 shares in the last quarter. Institutional investors and hedge funds own 67.02% of the company’s stock.
In related news, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total value of $56,791.35. Following the completion of the sale, the executive vice president now owns 114,542 shares in the company, valued at $3,968,880.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 543,948 shares of the company’s stock, valued at approximately $21,072,545.52. The disclosure for this sale can be found here. Insiders sold a total of 81,608 shares of company stock valued at $3,095,110 in the last 90 days. Company insiders own 0.08% of the company’s stock.
A number of research analysts have recently weighed in on the company. Jefferies Group LLC restated an “underperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Intel Corporation in a research report on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 price objective on Intel Corporation and gave the company a “sell” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada restated a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Intel Corporation in a research report on Friday, October 6th. Hilliard Lyons assumed coverage on Intel Corporation in a research report on Wednesday, July 12th. They set a “buy” rating and a $41.00 price objective for the company. Finally, Northland Securities set a $40.00 price objective on Intel Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.75.
Intel Corporation (NASDAQ INTC) opened at 39.30 on Thursday. The firm has a market cap of $184.67 billion, a P/E ratio of 15.00 and a beta of 1.07. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $39.95. The firm has a 50 day moving average of $36.89 and a 200-day moving average of $35.88.
Intel Corporation (NASDAQ:INTC) last released its earnings results 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. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the business earned $0.59 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Intel Corporation will post $3.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
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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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