Intel Corporation (INTC) Position Cut by Palladium Partners LLC

Palladium Partners LLC cut its holdings in Intel Corporation (NASDAQ:INTC) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,322 shares of the chip maker’s stock after selling 10,711 shares during the period. Palladium Partners LLC’s holdings in Intel Corporation were worth $11,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. First Bank & Trust increased its position in Intel Corporation by 7.2% in the 2nd quarter. First Bank & Trust now owns 10,669 shares of the chip maker’s stock valued at $360,000 after buying an additional 720 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Intel Corporation by 182.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock valued at $530,000 after purchasing an additional 9,746 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Intel Corporation by 4.5% during the 2nd quarter. Retirement Systems of Alabama now owns 4,053,281 shares of the chip maker’s stock valued at $136,758,000 after purchasing an additional 172,749 shares during the last quarter. IFP Advisors Inc boosted its stake in Intel Corporation by 1.7% during the 2nd quarter. IFP Advisors Inc now owns 204,876 shares of the chip maker’s stock valued at $6,913,000 after purchasing an additional 3,497 shares during the last quarter. Finally, ARP Americas LLC boosted its stake in Intel Corporation by 88.4% during the 2nd quarter. ARP Americas LLC now owns 10,549 shares of the chip maker’s stock valued at $356,000 after purchasing an additional 4,949 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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A number of research firms have issued reports on INTC. B. Riley reiterated a “buy” rating and set a $46.00 price target on shares of Intel Corporation in a research note on Friday, July 28th. Summit Redstone restated a “hold” rating on shares of Intel Corporation in a research note on Saturday, July 22nd. BMO Capital Markets restated a “market perform” rating and issued a $34.00 target price on shares of Intel Corporation in a research note on Sunday, July 30th. BidaskClub downgraded Intel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $39.00 target price on shares of Intel Corporation in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation presently has an average rating of “Buy” and an average target price of $43.00.

Intel Corporation (INTC) traded down $0.72 during trading hours on Friday, hitting $45.58. 24,095,300 shares of the stock were exchanged, compared to its average volume of 23,496,832. Intel Corporation has a 1 year low of $33.23 and a 1 year high of $47.30. The company has a current ratio of 1.60, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $216,684.00, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09.

Intel Corporation (NASDAQ:INTC) last issued its earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The company had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $15.73 billion. During the same quarter last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. sell-side analysts forecast that Intel Corporation will post 3.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 38.11%.

In other news, CEO Brian M. Krzanich sold 61,860 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $40.91, for a total transaction of $67,051.49. Following the sale, the executive vice president now owns 113,086 shares in the company, valued at $4,626,348.26. The disclosure for this sale can be found here. Insiders sold 659,036 shares of company stock worth $28,872,880 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

About Intel Corporation

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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