Valley National Advisers Inc. Sells 430 Shares of Intel Corporation (INTC)
Valley National Advisers Inc. reduced its position in shares of Intel Corporation (NASDAQ:INTC) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,565 shares of the chip maker’s stock after selling 430 shares during the quarter. Valley National Advisers Inc.’s holdings in Intel Corporation were worth $660,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc grew its stake in shares of Intel Corporation by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock valued at $860,658,000 after purchasing an additional 412,747 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Intel Corporation by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,627,860 shares of the chip maker’s stock valued at $830,944,000 after acquiring an additional 766,819 shares during the period. Fisher Asset Management LLC grew its stake in shares of Intel Corporation by 3.1% during the 2nd quarter. Fisher Asset Management LLC now owns 20,791,355 shares of the chip maker’s stock valued at $701,500,000 after acquiring an additional 623,698 shares during the period. Sanders Capital LLC grew its stake in shares of Intel Corporation by 2.2% during the 1st quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock valued at $545,383,000 after acquiring an additional 316,800 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Intel Corporation by 7.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,761,964 shares of the chip maker’s stock valued at $329,427,000 after acquiring an additional 686,808 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’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 sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $71,777.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 61,860 shares of the firm’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 sale, the chief executive officer now directly owns 543,948 shares in the company, valued at $21,072,545.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 659,036 shares of company stock worth $28,872,880. 0.08% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on the company. Jefferies Group LLC reiterated an “underperform” rating and set a $30.00 price objective (up from $29.00) on shares of Intel Corporation in a research note on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 price objective on Intel Corporation and gave the company a “sell” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 price objective (up from $37.00) on shares of Intel Corporation in a research note on Friday, October 6th. KeyCorp reiterated a “buy” rating and set a $50.00 price objective on shares of Intel Corporation in a research note on Friday, October 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 price objective on shares of Intel Corporation in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $43.40.
Intel Corporation (NASDAQ INTC) opened at $44.62 on Tuesday. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $47.30. The stock has a market capitalization of $209,220.00, a PE ratio of 14.03, a PEG ratio of 1.63 and a beta of 1.09. The company has a quick ratio of 1.27, a current ratio of 1.60 and a debt-to-equity ratio of 0.39.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.21. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. research analysts anticipate that Intel Corporation will post 3.25 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 dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is 38.25%.
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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).
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