Washington Trust Bank increased its position in shares of Intel Co. (NASDAQ:INTC) by 10.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,887 shares of the chip maker’s stock after buying an additional 2,268 shares during the quarter. Washington Trust Bank’s holdings in Intel were worth $1,489,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in INTC. TL Private Wealth grew its stake in shares of Intel by 1.3% in the 1st quarter. TL Private Wealth now owns 13,178 shares of the chip maker’s stock valued at $774,000 after purchasing an additional 170 shares during the last quarter. Bay Harbor Wealth Management LLC grew its stake in shares of Intel by 17.3% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 1,218 shares of the chip maker’s stock valued at $66,000 after purchasing an additional 180 shares during the last quarter. Bridgeworth LLC grew its stake in shares of Intel by 3.1% in the 1st quarter. Bridgeworth LLC now owns 6,283 shares of the chip maker’s stock valued at $340,000 after purchasing an additional 189 shares during the last quarter. Financial Insights Inc. grew its stake in shares of Intel by 5.5% in the 1st quarter. Financial Insights Inc. now owns 3,730 shares of the chip maker’s stock valued at $202,000 after purchasing an additional 195 shares during the last quarter. Finally, Pure Financial Advisors Inc. grew its stake in shares of Intel by 4.4% in the 2nd quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock valued at $284,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.
In other Intel news, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the sale, the executive vice president now owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Holmes Swan purchased 8,021 shares of the stock in a transaction on Friday, July 24th. The shares were purchased at an average cost of $50.00 per share, with a total value of $401,050.00. Following the transaction, the chief executive officer now owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. The business had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter in the previous year, the business earned $1.06 earnings per share. Sell-side analysts expect that Intel Co. will post 4.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 6th. Intel’s dividend payout ratio is currently 27.10%.
INTC has been the topic of a number of analyst reports. Rosenblatt Securities restated a “sell” rating on shares of Intel in a research note on Thursday, June 11th. Nomura restated a “buy” rating and issued a $74.00 price target on shares of Intel in a research note on Sunday, June 21st. Deutsche Bank downgraded Intel from a “buy” rating to a “hold” rating and decreased their price target for the company from $70.00 to $60.00 in a research note on Friday, July 24th. They noted that the move was a valuation call. Loop Capital decreased their price target on Intel from $59.00 to $50.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Finally, Exane BNP Paribas downgraded Intel from an “outperform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a research note on Friday, July 24th. Twelve equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $61.67.
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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