Zurich Insurance Group Ltd FI Has $38 Million Position in Intel Co. (NASDAQ:INTC)

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Zurich Insurance Group Ltd FI lowered its stake in Intel Co. (NASDAQ:INTC) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 793,895 shares of the chip maker’s stock after selling 86,826 shares during the period. Intel accounts for 0.8% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 27th largest position. Zurich Insurance Group Ltd FI’s holdings in Intel were worth $38,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley boosted its position in Intel by 8.2% in the second quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock valued at $1,318,484,000 after buying an additional 2,081,749 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Intel by 6.5% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,711 shares of the chip maker’s stock valued at $509,000 after acquiring an additional 655 shares during the period. PointState Capital LP lifted its holdings in Intel by 19.0% in the second quarter. PointState Capital LP now owns 53,700 shares of the chip maker’s stock valued at $2,571,000 after acquiring an additional 8,580 shares during the period. Ensemble Capital Management LLC grew its holdings in Intel by 4.2% in the 2nd quarter. Ensemble Capital Management LLC now owns 13,380 shares of the chip maker’s stock valued at $641,000 after buying an additional 540 shares in the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in Intel by 39.6% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 43,066 shares of the chip maker’s stock valued at $2,063,000 after buying an additional 12,211 shares in the last quarter. 65.89% of the stock is currently owned by institutional investors.

INTC has been the subject of several analyst reports. Wedbush upped their target price on Intel from $37.50 to $42.90 and gave the company an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada restated an “underperform” rating and issued a $47.00 target price (up from $41.00) on shares of Intel in a report on Friday, July 26th. SunTrust Banks restated a “buy” rating and issued a $58.00 target price (up from $54.00) on shares of Intel in a report on Friday, July 26th. Bank of America lowered their price target on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Nomura set a $65.00 price target on Intel and gave the stock a “buy” rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the company’s stock. Intel currently has an average rating of “Hold” and a consensus price target of $54.09.

Shares of NASDAQ INTC traded down $0.37 during midday trading on Friday, hitting $51.20. 10,853,451 shares of the company’s stock were exchanged, compared to its average volume of 18,777,180. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. Intel Co. has a twelve month low of $42.36 and a twelve month high of $59.59. The company has a market cap of $230.14 billion, a PE ratio of 11.18, a P/E/G ratio of 1.58 and a beta of 0.90. The firm’s fifty day simple moving average is $48.26 and its 200-day simple moving average is $49.86.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. During the same quarter last year, the company earned $1.04 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Intel Co. will post 4.38 EPS for the current fiscal year.

The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a dividend of $0.315 per share. The ex-dividend date is Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.

In related news, EVP Navin Shenoy sold 8,551 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.06, for a total transaction of $445,165.06. Following the transaction, the executive vice president now owns 70,276 shares in the company, valued at approximately $3,658,568.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.86, for a total value of $117,571.74. The disclosure for this sale can be found here. Insiders have sold a total of 39,032 shares of company stock worth $2,006,895 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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