Halbert Hargrove Russell LLC Reduces Position in Intel Corporation (INTC)

Halbert Hargrove Russell LLC trimmed its position in shares of Intel Corporation (NASDAQ:INTC) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,504 shares of the chip maker’s stock after selling 288 shares during the quarter. Halbert Hargrove Russell LLC’s holdings in Intel Corporation were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. increased its stake in shares of Intel Corporation by 2.5% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 4,652,023 shares of the chip maker’s stock worth $167,799,000 after purchasing an additional 115,540 shares in the last quarter. First American Trust FSB increased its stake in shares of Intel Corporation by 6.3% in the 1st quarter. First American Trust FSB now owns 9,270 shares of the chip maker’s stock worth $335,000 after purchasing an additional 548 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Intel Corporation by 14.5% in the 1st quarter. Manning & Napier Advisors LLC now owns 669,896 shares of the chip maker’s stock worth $24,161,000 after purchasing an additional 85,039 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of Intel Corporation by 4.0% in the 1st quarter. Fulton Bank N.A. now owns 92,523 shares of the chip maker’s stock worth $3,337,000 after purchasing an additional 3,579 shares in the last quarter. Finally, West Oak Capital LLC increased its stake in shares of Intel Corporation by 11.1% in the 1st quarter. West Oak Capital LLC now owns 59,045 shares of the chip maker’s stock worth $2,130,000 after purchasing an additional 5,888 shares in the last quarter. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Intel Corporation (NASDAQ INTC) traded up 1.43% during trading on Friday, hitting $37.00. 33,596,072 shares of the stock traded hands. The firm has a market cap of $173.86 billion, a PE ratio of 14.12 and a beta of 1.02. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The company’s 50 day moving average is $35.64 and its 200 day moving average is $35.52.

Intel Corporation (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. Intel Corporation’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intel Corporation will post $3.01 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.2725 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a yield of 2.95%. Intel Corporation’s payout ratio is 41.76%.

A number of equities research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research note on Friday, July 28th. BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target for the company. in a research note on Tuesday, August 8th. Zacks Investment Research lowered Intel Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of Intel Corporation in a research note on Thursday. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Intel Corporation currently has a consensus rating of “Hold” and an average target price of $40.60.

In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,921 shares of company stock valued at $3,130,162. 0.08% of the stock is owned by insiders.

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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).

Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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