Lipe & Dalton reduced its holdings in shares of Intel Corporation (NASDAQ:INTC) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,662 shares of the chip maker’s stock after selling 1,650 shares during the quarter. Intel makes up about 2.7% of Lipe & Dalton’s holdings, making the stock its 13th largest position. Lipe & Dalton’s holdings in Intel were worth $4,240,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of INTC. Watermark Asset Management Inc. bought a new stake in Intel during the first quarter worth $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Intel by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares during the period. Winfield Associates Inc. raised its stake in shares of Intel by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after buying an additional 265 shares during the period. Vigilant Capital Management LLC raised its stake in shares of Intel by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares during the period. Finally, Burt Wealth Advisors raised its stake in shares of Intel by 236.1% in the second quarter. Burt Wealth Advisors now owns 4,941 shares of the chip maker’s stock valued at $166,000 after buying an additional 3,471 shares during the period. Institutional investors and hedge funds own 67.70% of the company’s stock.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $46.73, for a total transaction of $66,543.52. Following the completion of the transaction, the insider now directly owns 1,536 shares in the company, valued at $71,777.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian M. Krzanich sold 61,860 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.74, for a total value of $2,396,456.40. Following the transaction, the chief executive officer now owns 543,948 shares of the company’s stock, valued at $21,072,545.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,548,914 shares of company stock valued at $68,196,589. 0.08% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel had a return on equity of 22.65% and a net margin of 22.31%. The business had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. equities research analysts predict that Intel Corporation will post 3.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, November 6th. Intel’s payout ratio is 38.11%.
Several analysts have issued reports on the company. Canaccord Genuity boosted their target price on Intel from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, November 17th. Barclays restated a “buy” rating and issued a $55.00 target price on shares of Intel in a research note on Monday, November 13th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Intel in a research note on Wednesday, November 1st. Sanford C. Bernstein set a $34.00 target price on Intel and gave the company a “sell” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets upgraded Intel from a “market perform” rating to an “outperform” rating in a research note on Monday, October 30th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.40.
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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