Hourglass Capital LLC held its stake in Intel Corporation (NASDAQ:INTC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212,377 shares of the chip maker’s stock at the close of the first quarter. Intel Corporation comprises about 1.9% of Hourglass Capital LLC’s investment portfolio, making the stock its 19th biggest position. Hourglass Capital LLC’s holdings in Intel Corporation were worth $7,660,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in INTC. DnB Asset Management AS increased its position in shares of Intel Corporation by 654.3% during the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock worth $195,986,000 after acquiring an additional 4,713,168 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Intel Corporation by 11.9% during the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock worth $300,238,000 after acquiring an additional 882,905 shares during the period. LaFleur & Godfrey LLC purchased a new position in shares of Intel Corporation during the first quarter worth approximately $14,106,000. Doyle Wealth Management purchased a new position in shares of Intel Corporation during the first quarter worth approximately $12,172,000. Finally, Hamlin Capital Management LLC increased its position in shares of Intel Corporation by 21.6% during the first quarter. Hamlin Capital Management LLC now owns 1,374,092 shares of the chip maker’s stock worth $49,563,000 after acquiring an additional 244,497 shares during the period. 67.09% of the stock is owned by hedge funds and other institutional investors.
INTC has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group restated an “outperform” rating on shares of Intel Corporation in a research report on Thursday, August 31st. Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Intel Corporation in a research report on Wednesday, August 23rd. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Intel Corporation has a consensus rating of “Hold” and an average target price of $40.60.
Intel Corporation (NASDAQ:INTC) traded up 1.43% during midday trading on Friday, reaching $37.00. 33,596,072 shares of the company traded hands. The company has a market cap of $173.86 billion, a price-to-earnings ratio of 14.12 and a beta of 1.02. The company has a 50-day moving average price of $35.64 and a 200-day moving average price of $35.52. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.2725 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a yield of 2.95%. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
In other news, CEO Brian M. Krzanich sold 72,173 shares of the business’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 completion of the transaction, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’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 transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,921 shares of company stock valued at $3,130,162. Corporate insiders own 0.08% of the company’s stock.
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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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