Community Bank N.A. increased its stake in shares of Intel Co. (NASDAQ:INTC) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,649 shares of the chip maker’s stock after buying an additional 19,955 shares during the quarter. Intel comprises approximately 1.8% of Community Bank N.A.’s investment portfolio, making the stock its 9th biggest position. Community Bank N.A.’s holdings in Intel were worth $10,450,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Community Financial Services Group LLC boosted its holdings in shares of Intel by 0.9% in the 1st quarter. Community Financial Services Group LLC now owns 64,954 shares of the chip maker’s stock valued at $3,515,000 after purchasing an additional 606 shares in the last quarter. Krueger & Catalano Capital Partners LLC boosted its holdings in shares of Intel by 18.5% in the 1st quarter. Krueger & Catalano Capital Partners LLC now owns 5,909 shares of the chip maker’s stock valued at $320,000 after purchasing an additional 924 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Intel by 1.2% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 25,893 shares of the chip maker’s stock valued at $1,401,000 after purchasing an additional 300 shares in the last quarter. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Intel by 8.4% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 7,618 shares of the chip maker’s stock valued at $412,000 after purchasing an additional 592 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its holdings in shares of Intel by 3.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 34,005 shares of the chip maker’s stock valued at $1,840,000 after purchasing an additional 1,012 shares in the last quarter. 64.95% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on INTC shares. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $58.00 target price on shares of Intel in a report on Tuesday, July 14th. Deutsche Bank downgraded Intel from a “buy” rating to a “hold” rating and cut their price objective for the company from $70.00 to $60.00 in a report on Friday, July 24th. They noted that the move was a valuation call. Royal Bank of Canada cut their price objective on Intel from $52.00 to $48.00 and set an “underperform” rating on the stock in a report on Friday, July 24th. Tigress Financial reissued a “buy” rating on shares of Intel in a report on Thursday. Finally, Morgan Stanley cut their price objective on Intel from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. Twelve research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the company. Intel presently has a consensus rating of “Hold” and a consensus price target of $61.67.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.12. The company had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same period last year, the business posted $1.06 EPS. Equities analysts predict that Intel Co. will post 4.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. Intel’s dividend payout ratio is presently 27.10%.
In related news, CEO Robert Holmes Swan purchased 8,021 shares of the business’s stock in a transaction on Friday, July 24th. The stock was acquired at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the purchase, the chief executive officer now owns 293,594 shares of the company’s stock, valued at $14,679,700. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Navin Shenoy sold 2,847 shares of Intel stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the transaction, the executive vice president now owns 71,807 shares of the company’s stock, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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