TradeLink Capital LLC bought a new position in shares of Intel Co. (NASDAQ:INTC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 10,800 shares of the chip maker’s stock, valued at approximately $646,000. Intel comprises approximately 2.7% of TradeLink Capital LLC’s portfolio, making the stock its 11th largest position.
A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. BlackRock Inc. raised its position in Intel by 2.9% in the 1st quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock valued at $16,852,495,000 after purchasing an additional 8,659,315 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intel by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 71,885,174 shares of the chip maker’s stock worth $3,884,421,000 after acquiring an additional 2,854,177 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Intel by 7.1% during the 1st quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock worth $2,207,470,000 after acquiring an additional 2,709,735 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Intel by 45.2% during the 1st quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock worth $2,122,927,000 after buying an additional 12,217,997 shares during the last quarter. Finally, Morgan Stanley grew its stake in Intel by 3.8% during the 1st quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after buying an additional 1,108,810 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
In other Intel news, CEO Robert Holmes Swan bought 8,021 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was purchased at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the purchase, the chief executive officer now owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Navin Shenoy sold 7,018 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $59.83, for a total value of $419,886.94. Following the completion of the transaction, the executive vice president now owns 68,942 shares of the company’s stock, valued at $4,124,799.86. The disclosure for this sale can be found here. Corporate insiders own 0.04% of the company’s stock.
Intel (NASDAQ:INTC) last released 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 firm had revenue of $19.73 billion during the quarter, compared to analyst estimates of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same period in the prior year, the firm posted $1.06 earnings per share. As a group, analysts anticipate that Intel Co. will post 4.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 yield of 2.77%. Intel’s payout ratio is currently 27.10%.
A number of research analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Intel from $53.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein downgraded Intel from a “market perform” rating to an “underperform” rating and set a $45.00 price target on the stock. in a research note on Friday, July 24th. Mizuho reiterated a “buy” rating and issued a $63.00 target price on shares of Intel in a research note on Thursday, July 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Tuesday, July 7th. Finally, BofA Securities downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, July 24th. Twelve investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Intel currently has an average rating of “Hold” and a consensus price target of $61.67.
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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