S&T Bank PA lifted its holdings in Intel Co. (NASDAQ:INTC) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,852 shares of the chip maker’s stock after buying an additional 4,980 shares during the quarter. S&T Bank PA’s holdings in Intel were worth $6,790,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of INTC. Davis Selected Advisers raised its holdings in shares of Intel by 806.0% in the second quarter. Davis Selected Advisers now owns 7,473,706 shares of the chip maker’s stock worth $357,766,000 after buying an additional 6,648,828 shares during the period. Pictet Asset Management Ltd. raised its holdings in shares of Intel by 214.8% in the second quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock worth $460,532,000 after buying an additional 6,564,340 shares during the period. Thoroughbred Financial Services LLC raised its holdings in shares of Intel by 4,885.4% in the second quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock worth $254,860,000 after buying an additional 2,497,476 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Intel by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,298,451 shares of the chip maker’s stock worth $1,450,387,000 after buying an additional 1,952,840 shares during the period. Finally, Swedbank raised its holdings in shares of Intel by 49.3% in the second quarter. Swedbank now owns 5,457,971 shares of the chip maker’s stock worth $261,273,000 after buying an additional 1,803,296 shares during the period. Hedge funds and other institutional investors own 65.95% of the company’s stock.
In other news, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total transaction of $400,062.56. Following the completion of the sale, the executive vice president now owns 68,833 shares in the company, valued at approximately $3,220,007.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reed E. Hundt sold 10,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $52.45, for a total value of $524,500.00. Following the sale, the director now owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. Insiders have sold a total of 39,033 shares of company stock worth $1,961,792 in the last ninety days. Insiders own 0.02% of the company’s stock.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.17. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. On average, research analysts predict that Intel Co. will post 4.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.26 annualized dividend and a yield of 2.38%. Intel’s dividend payout ratio (DPR) is presently 27.51%.
Several equities research analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating and issued a $53.00 price target (up from $50.00) on shares of Intel in a report on Friday, July 26th. Wedbush increased their price target on Intel from $37.50 to $42.90 and gave the stock an “underperform” rating in a report on Friday, July 26th. Tigress Financial reissued a “buy” rating on shares of Intel in a research note on Friday, August 30th. Cascend Securities reissued a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Intel in a research note on Friday, July 26th. Finally, Morgan Stanley increased their price objective on Intel from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.09.
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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