Intel Co. (NASDAQ:INTC) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in Intel Co. (NASDAQ:INTC) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,718 shares of the chip maker’s stock after acquiring an additional 1,831 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intel were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Intel by 2.9% in the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock valued at $16,852,495,000 after acquiring an additional 8,659,315 shares during the last quarter. Geode Capital Management LLC raised its position in Intel by 4.1% in the first quarter. Geode Capital Management LLC now owns 71,885,174 shares of the chip maker’s stock valued at $3,884,421,000 after purchasing an additional 2,854,177 shares during the period. Bank of New York Mellon Corp raised its position in Intel by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock valued at $2,207,470,000 after purchasing an additional 2,709,735 shares during the period. Nuveen Asset Management LLC raised its position in Intel by 45.2% in the first quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock valued at $2,122,927,000 after purchasing an additional 12,217,997 shares during the period. Finally, Morgan Stanley raised its position in Intel by 3.8% in the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock valued at $1,645,971,000 after purchasing an additional 1,108,810 shares during the period. Hedge funds and other institutional investors own 64.95% of the company’s stock.

Several research analysts have commented on the company. JPMorgan Chase & Co. set a $80.00 price objective on Intel and gave the company a “buy” rating in a research report on Friday, April 24th. UBS Group cut their price objective on Intel from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Rosenblatt Securities reissued a “sell” rating on shares of Intel in a research report on Thursday, June 11th. ValuEngine lowered Intel from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Finally, Royal Bank of Canada dropped their target price on Intel from $52.00 to $48.00 and set an “underperform” rating on the stock in a research report on Friday, July 24th. Twelve equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.67.

In related news, EVP Navin Shenoy sold 7,018 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 68,942 shares of the company’s stock, valued at $4,124,799.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Holmes Swan bought 8,021 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was bought 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 directly owns 293,594 shares of the company’s stock, valued at $14,679,700. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

NASDAQ INTC opened at $47.73 on Friday. Intel Co. has a 52-week low of $43.63 and a 52-week high of $69.29. The company has a 50-day simple moving average of $58.00 and a 200 day simple moving average of $59.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 1.97. The company has a market capitalization of $203.00 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.78.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The firm had revenue of $19.73 billion during the quarter, compared to analyst estimates of $18.54 billion. During the same quarter last year, the business earned $1.06 earnings per share. As a group, analysts forecast that Intel Co. will post 4.85 EPS for the current fiscal year.

The business 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. This represents a $1.32 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, August 6th. Intel’s dividend payout ratio is currently 27.10%.

Intel Profile

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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