Pflug Koory LLC lifted its position in shares of Intel Co. (NASDAQ:INTC) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,402 shares of the chip maker’s stock after buying an additional 235 shares during the period. Intel comprises 1.1% of Pflug Koory LLC’s investment portfolio, making the stock its 21st largest position. Pflug Koory LLC’s holdings in Intel were worth $1,464,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Marshall Wace North America L.P. acquired a new stake in shares of Intel in the 1st quarter valued at approximately $27,538,000. First Pacific Advisors LP acquired a new stake in shares of Intel in the 1st quarter valued at approximately $671,000. Clearbridge Investments LLC raised its position in shares of Intel by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 6,492,287 shares of the chip maker’s stock valued at $348,636,000 after acquiring an additional 19,480 shares during the period. Princeton Global Asset Management LLC raised its position in shares of Intel by 13.0% in the 1st quarter. Princeton Global Asset Management LLC now owns 12,645 shares of the chip maker’s stock valued at $679,000 after acquiring an additional 1,450 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in shares of Intel by 1.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 59,882 shares of the chip maker’s stock valued at $3,216,000 after acquiring an additional 1,114 shares during the period. 65.93% of the stock is currently owned by institutional investors.
In related news, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total value of $31,107.76. Following the completion of the transaction, the executive vice president now directly owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed E. Hundt sold 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $52.45, for a total transaction of $524,500.00. Following the completion of the transaction, the director now directly owns 44,400 shares of the company’s stock, valued at $2,328,780. The disclosure for this sale can be found here. Insiders have sold a total of 41,541 shares of company stock valued at $2,135,306 over the last ninety days. Company insiders own 0.02% of the company’s stock.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. On average, analysts anticipate that Intel Co. will post 4.38 earnings per share for the current year.
The firm also recently declared a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio is currently 27.51%.
A number of analysts recently weighed in on INTC shares. BidaskClub upgraded shares of Intel from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Atlantic Securities started coverage on shares of Intel in a report on Monday, July 22nd. They set an “underweight” rating and a $38.00 target price on the stock. Royal Bank of Canada restated an “underperform” rating and set a $47.00 target price (up from $41.00) on shares of Intel in a report on Friday, July 26th. SunTrust Banks restated a “buy” rating and set a $58.00 target price (up from $54.00) on shares of Intel in a report on Friday, July 26th. Finally, Barclays restated a “sell” rating and set a $40.00 target price on shares of Intel in a report on Friday, July 26th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.79.
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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