Chemung Canal Trust Co. boosted its position in shares of Intel Co. (NASDAQ:INTC) by 60.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,211 shares of the chip maker’s stock after acquiring an additional 45,900 shares during the quarter. Intel accounts for approximately 1.5% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 22nd biggest position. Chemung Canal Trust Co.’s holdings in Intel were worth $6,076,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Intel by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,906,186 shares of the chip maker’s stock valued at $2,651,194,000 after acquiring an additional 295,380 shares during the period. LSV Asset Management boosted its holdings in Intel by 2.0% during the 1st quarter. LSV Asset Management now owns 24,760,162 shares of the chip maker’s stock valued at $1,289,509,000 after acquiring an additional 482,570 shares during the period. Alliancebernstein L.P. boosted its holdings in Intel by 14.7% during the 4th quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock valued at $1,116,510,000 after acquiring an additional 3,095,697 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Intel by 47.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock valued at $1,094,509,000 after acquiring an additional 7,669,737 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Intel by 3.3% during the 2nd quarter. Fisher Asset Management LLC now owns 23,435,777 shares of the chip maker’s stock valued at $1,164,993,000 after acquiring an additional 745,116 shares during the period. Institutional investors own 65.37% of the company’s stock.
INTC has been the subject of a number of research analyst reports. Needham & Company LLC lowered their target price on Intel from $62.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 22nd. Wells Fargo & Co reaffirmed a “buy” rating and issued a $65.00 price target on shares of Intel in a research report on Thursday, June 21st. BidaskClub lowered Intel from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 12th. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, June 27th. Finally, Robert W. Baird set a $64.00 price target on Intel and gave the company a “buy” rating in a research report on Thursday, July 12th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have issued a buy rating to the company. Intel currently has a consensus rating of “Hold” and a consensus target price of $54.84.
Shares of NASDAQ INTC traded down $1.10 during midday trading on Friday, hitting $47.03. 28,893,752 shares of the company’s stock were exchanged, compared to its average volume of 29,244,244. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57. Intel Co. has a twelve month low of $38.98 and a twelve month high of $57.60. The firm has a market capitalization of $221.24 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.97.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The business had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. During the same quarter last year, the company earned $0.72 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post 4.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
In related news, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $47.69, for a total transaction of $28,661.69. Following the transaction, the executive vice president now owns 40,903 shares in the company, valued at approximately $1,950,664.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Ralph Rodgers sold 1,251 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $48.37, for a total value of $60,510.87. The disclosure for this sale can be found here. Insiders have sold a total of 4,077 shares of company stock worth $205,757 in the last 90 days. 0.03% of the stock is currently owned by company insiders.
Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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