Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,702,928 shares of the chip maker’s stock after selling 120,976 shares during the period. Intel comprises about 0.7% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 23rd biggest holding. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Intel worth $281,377,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bay Harbor Wealth Management LLC increased its position in shares of Intel by 17.3% in the first quarter. Bay Harbor Wealth Management LLC now owns 1,218 shares of the chip maker’s stock worth $66,000 after acquiring an additional 180 shares in the last quarter. Pure Financial Advisors Inc. boosted its stake in Intel by 4.4% in the 2nd quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock worth $284,000 after purchasing an additional 199 shares during the period. Roanoke Asset Management Corp NY grew its position in Intel by 0.8% during the 1st quarter. Roanoke Asset Management Corp NY now owns 24,134 shares of the chip maker’s stock worth $1,306,000 after purchasing an additional 200 shares in the last quarter. NewFocus Financial Group LLC raised its stake in Intel by 3.7% during the 2nd quarter. NewFocus Financial Group LLC now owns 5,585 shares of the chip maker’s stock valued at $334,000 after purchasing an additional 200 shares during the period. Finally, GM Advisory Group Inc. lifted its holdings in shares of Intel by 1.9% in the first quarter. GM Advisory Group Inc. now owns 10,902 shares of the chip maker’s stock valued at $590,000 after purchasing an additional 201 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.
Intel stock traded up $0.37 on Wednesday, reaching $50.37. 26,522,152 shares of the stock were exchanged, compared to its average volume of 30,171,217. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $43.63 and a twelve month high of $69.29. The firm has a fifty day moving average price of $49.22 and a two-hundred day moving average price of $55.74. The stock has a market cap of $212.65 billion, a PE ratio of 9.33, a PEG ratio of 1.35 and a beta of 0.71.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.62%. Intel’s dividend payout ratio (DPR) is presently 27.10%.
In related news, CEO Robert Holmes Swan acquired 8,021 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were bought at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the acquisition, the chief executive officer now owns 293,594 shares in the company, valued at approximately $14,679,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $48.18, for a total transaction of $137,168.46. Following the transaction, the executive vice president now directly 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. Insiders sold 10,109 shares of company stock valued at $568,933 over the last three months. 0.04% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on INTC shares. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Tuesday, July 7th. UBS Group lowered their target price on Intel from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Susquehanna Bancshares reissued a “hold” rating and issued a $58.00 price target on shares of Intel in a research report on Tuesday, July 14th. Credit Suisse Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Intel in a research report on Monday, August 24th. Finally, Zacks Investment Research lowered shares of Intel from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Monday, July 27th. Twelve investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have issued a buy rating to the stock. Intel has a consensus rating of “Hold” and an average price target of $61.15.
Intel Company 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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