Penobscot Investment Management Company Inc. Grows Stake in Intel Co. (INTC)

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Penobscot Investment Management Company Inc. lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.6% during the second quarter, HoldingsChannel.com reports. The firm owned 160,928 shares of the chip maker’s stock after purchasing an additional 2,470 shares during the quarter. Intel accounts for about 1.9% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 9th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Intel were worth $8,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Intel by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,906,186 shares of the chip maker’s stock valued at $2,651,194,000 after buying an additional 295,380 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Intel by 3.3% during the 2nd quarter. Fisher Asset Management LLC now owns 23,435,777 shares of the chip maker’s stock valued at $1,164,993,000 after buying an additional 745,116 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Intel by 9.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,714,536 shares of the chip maker’s stock valued at $781,170,000 after buying an additional 1,308,534 shares in the last quarter. Sanders Capital LLC grew its holdings in Intel by 2.6% during the 2nd quarter. Sanders Capital LLC now owns 12,675,542 shares of the chip maker’s stock valued at $688,862,000 after buying an additional 321,400 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Intel by 3.9% during the 1st quarter. California Public Employees Retirement System now owns 12,526,127 shares of the chip maker’s stock valued at $652,361,000 after buying an additional 464,438 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

INTC has been the subject of a number of recent analyst reports. Robert W. Baird set a $64.00 target price on Intel and gave the company a “buy” rating in a report on Thursday, July 12th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $60.00 target price on shares of Intel in a report on Monday, July 16th. Stifel Nicolaus reaffirmed a “neutral” rating and set a $60.00 target price on shares of Intel in a report on Monday, July 16th. Citigroup lowered Intel from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Friday, July 27th. Finally, Bank of America lowered Intel from a “buy” rating to a “neutral” rating and reduced their target price for the company from $62.00 to $56.00 in a report on Friday, July 27th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $55.27.

In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the sale, the vice president now owns 14,271 shares in the company, valued at approximately $649,758.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the sale, the executive vice president now owns 30,324 shares of the company’s stock, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. Insiders sold a total of 8,747 shares of company stock valued at $398,552 in the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

NASDAQ:INTC opened at $48.99 on Friday. The company has a market capitalization of $221.05 billion, a P/E ratio of 14.16, a PEG ratio of 1.24 and a beta of 0.88. Intel Co. has a 1-year low of $42.04 and a 1-year high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. On average, equities analysts forecast that Intel Co. will post 4.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.45%. Intel’s payout ratio is 34.68%.

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About Intel

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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