Legal & General Group Plc Acquires 1,912,040 Shares of Intel Co. (NASDAQ:INTC)

Legal & General Group Plc raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,929,592 shares of the chip maker’s stock after purchasing an additional 1,912,040 shares during the quarter. Intel accounts for approximately 0.5% of Legal & General Group Plc’s portfolio, making the stock its 23rd largest position. Legal & General Group Plc’s holdings in Intel were worth $1,624,107,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Aviance Capital Partners LLC increased its stake in Intel by 1.0% during the 2nd quarter. Aviance Capital Partners LLC now owns 18,479 shares of the chip maker’s stock valued at $1,037,000 after purchasing an additional 186 shares in the last quarter. River Wealth Advisors LLC increased its stake in Intel by 0.7% during the 2nd quarter. River Wealth Advisors LLC now owns 26,071 shares of the chip maker’s stock valued at $1,464,000 after purchasing an additional 186 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV increased its stake in Intel by 1.8% during the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,977 shares of the chip maker’s stock valued at $615,000 after purchasing an additional 191 shares in the last quarter. Aries Wealth Management increased its stake in Intel by 0.6% during the 2nd quarter. Aries Wealth Management now owns 30,786 shares of the chip maker’s stock valued at $1,728,000 after purchasing an additional 195 shares in the last quarter. Finally, Searle & CO. increased its stake in Intel by 2.5% during the 2nd quarter. Searle & CO. now owns 8,166 shares of the chip maker’s stock valued at $458,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.

Shares of INTC traded down $0.44 during midday trading on Tuesday, hitting $54.22. 295,460 shares of the company traded hands, compared to its average volume of 27,970,607. The stock has a 50-day moving average of $53.81 and a 200-day moving average of $57.28. Intel Co. has a one year low of $43.61 and a one year high of $68.49. The firm has a market cap of $219.97 billion, a P/E ratio of 12.07, a PEG ratio of 1.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.63.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 22nd. The chip maker reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.22. The firm had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $17.80 billion. Intel had a return on equity of 27.24% and a net margin of 23.91%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Sell-side analysts forecast that Intel Co. will post 4.79 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Sunday, November 7th will be given a $0.3475 dividend. This represents a $1.39 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, November 4th. Intel’s dividend payout ratio (DPR) is 26.23%.

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a report on Wednesday, September 8th. They set a “hold” rating and a $58.00 price objective on the stock. Zacks Investment Research raised shares of Intel from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, July 9th. BMO Capital Markets lifted their price objective on shares of Intel from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. UBS Group set a $73.00 price objective on shares of Intel in a report on Friday, July 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $85.00 price objective on shares of Intel in a report on Friday, July 16th. Eleven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $60.65.

Intel Company Profile

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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