Intel Corporation (INTC) Position Lessened by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its position in shares of Intel Corporation (NASDAQ:INTC) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 437,770 shares of the chip maker’s stock after selling 41,600 shares during the period. Intel Corporation accounts for approximately 0.8% of New Mexico Educational Retirement Board’s holdings, making the stock its 27th biggest position. New Mexico Educational Retirement Board’s holdings in Intel Corporation were worth $15,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Summit Asset Management LLC boosted its holdings in shares of Intel Corporation by 0.7% during the 1st quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock worth $227,000 after buying an additional 46 shares during the period. Conservest Capital Advisors Inc. boosted its holdings in shares of Intel Corporation by 0.6% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock worth $302,000 after buying an additional 51 shares during the period. Hudock Capital Group LLC boosted its holdings in shares of Intel Corporation by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock worth $453,000 after buying an additional 53 shares during the period. Bank of Stockton boosted its holdings in shares of Intel Corporation by 0.4% during the 2nd quarter. Bank of Stockton now owns 16,321 shares of the chip maker’s stock worth $550,000 after buying an additional 72 shares during the period. Finally, Benin Management CORP boosted its holdings in shares of Intel Corporation by 0.3% during the 2nd quarter. Benin Management CORP now owns 26,055 shares of the chip maker’s stock worth $879,000 after buying an additional 84 shares during the period. 67.07% of the stock is owned by institutional investors and hedge funds.

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Shares of Intel Corporation (NASDAQ INTC) opened at 45.49 on Wednesday. The stock has a 50 day moving average of $39.24 and a 200-day moving average of $36.43. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $45.80. The firm has a market capitalization of $213.76 billion, a P/E ratio of 17.36 and a beta of 1.07.

Intel Corporation (NASDAQ:INTC) last issued its earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The company had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $15.73 billion. During the same period last year, the business earned $0.80 EPS. Intel Corporation’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that Intel Corporation will post $3.24 EPS for the current fiscal year.

The company 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. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 38.11%.

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 report on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a research note on Wednesday, July 12th. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $44.36 target price for the company in a research note on Wednesday, October 11th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation presently has a consensus rating of “Buy” and an average target price of $42.91.

In related news, insider Stacy J. Smith sold 472,337 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.23, for a total value of $20,891,465.51. Following the completion of the sale, the insider now directly owns 265,298 shares of the company’s stock, valued at approximately $11,734,130.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 659,036 shares of company stock worth $28,858,170. 0.08% of the stock is owned by company insiders.

Intel Corporation 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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