Intel Corporation (INTC) Stake Lessened by Connable Office Inc.

Connable Office Inc. decreased its holdings in shares of Intel Corporation (NASDAQ:INTC) by 27.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,179 shares of the chip maker’s stock after selling 22,275 shares during the period. Connable Office Inc.’s holdings in Intel Corporation were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Palisade Asset Management LLC lifted its holdings in Intel Corporation by 35.4% in the 2nd quarter. Palisade Asset Management LLC now owns 144,592 shares of the chip maker’s stock valued at $4,879,000 after purchasing an additional 37,800 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Intel Corporation by 11.8% in the 2nd quarter. Kovitz Investment Group Partners LLC now owns 19,637 shares of the chip maker’s stock valued at $663,000 after purchasing an additional 2,073 shares in the last quarter. Sonata Capital Group Inc. lifted its holdings in Intel Corporation by 0.9% in the 2nd quarter. Sonata Capital Group Inc. now owns 11,846 shares of the chip maker’s stock valued at $400,000 after purchasing an additional 100 shares in the last quarter. Mengis Capital Management Inc. lifted its holdings in Intel Corporation by 2.6% in the 2nd quarter. Mengis Capital Management Inc. now owns 38,067 shares of the chip maker’s stock valued at $1,284,000 after purchasing an additional 962 shares in the last quarter. Finally, Summit Financial Group Inc. acquired a new stake in shares of Intel Corporation in the 2nd quarter worth $1,368,000. Hedge funds and other institutional investors own 67.07% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Intel Corporation (INTC) Stake Lessened by Connable Office Inc.” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2017/11/03/intel-corporation-intc-stake-lessened-by-connable-office-inc.html.

INTC has been the subject of a number of recent research reports. Jefferies Group LLC downgraded Intel Corporation from a “hold” rating to an “underperform” rating and cut their target price for the stock from $29.00 to $28.00 in a research note on Monday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Intel Corporation in a research note on Wednesday, July 12th. Hilliard Lyons initiated coverage on Intel Corporation in a research note on Wednesday, July 12th. They issued a “buy” rating and a $41.00 target price for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of Intel Corporation in a research note on Wednesday, July 12th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Intel Corporation in a research note on Thursday, July 13th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.00.

In related news, Chairman Andy D. Bryant sold 89,087 shares of Intel Corporation stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.80, for a total transaction of $3,991,097.60. Following the completion of the sale, the chairman now owns 428,789 shares of the company’s stock, valued at $19,209,747.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stacy J. Smith sold 472,337 shares of Intel Corporation stock in a transaction on Monday, October 30th. The shares were sold at an average price of $44.23, for a total value of $20,891,465.51. Following the sale, the insider now directly owns 265,298 shares of the company’s stock, valued at approximately $11,734,130.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 659,036 shares of company stock valued at $28,858,170. Insiders own 0.08% of the company’s stock.

Intel Corporation (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a yield of 2.31%. Intel Corporation’s payout ratio is 38.11%.

About Intel Corporation

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)

What are top analysts saying about Intel Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Intel Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit