Pzena Investment Management LLC Acquires 94,533 Shares of Intel Corporation (NASDAQ:INTC)

Pzena Investment Management LLC raised its holdings in shares of Intel Corporation (NASDAQ:INTC) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,490,243 shares of the chip maker’s stock after acquiring an additional 94,533 shares during the quarter. Intel makes up approximately 1.6% of Pzena Investment Management LLC’s holdings, making the stock its 27th biggest position. Pzena Investment Management LLC owned approximately 0.18% of Intel worth $286,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC lifted its stake in shares of Intel by 11.8% in the second quarter. Mosaic Family Wealth LLC now owns 24,556 shares of the chip maker’s stock worth $829,000 after acquiring an additional 2,601 shares during the period. Truepoint Inc. increased its holdings in shares of Intel by 1.5% during the second quarter. Truepoint Inc. now owns 15,208 shares of the chip maker’s stock valued at $557,000 after acquiring an additional 222 shares in the last quarter. Cadence Capital Management LLC increased its holdings in shares of Intel by 3.9% during the second quarter. Cadence Capital Management LLC now owns 377,888 shares of the chip maker’s stock valued at $12,750,000 after acquiring an additional 14,160 shares in the last quarter. Apriem Advisors grew its holdings in Intel by 6.5% during the second quarter. Apriem Advisors now owns 8,113 shares of the chip maker’s stock worth $274,000 after buying an additional 492 shares in the last quarter. Finally, Montag A & Associates Inc. grew its holdings in Intel by 1.3% during the second quarter. Montag A & Associates Inc. now owns 80,550 shares of the chip maker’s stock worth $2,718,000 after buying an additional 1,024 shares in the last quarter. 67.69% of the stock is owned by institutional investors.

A number of research analysts have recently commented on the company. Instinet upped their price target on Intel to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity increased their price objective on Intel from $41.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 17th. Barclays restated a “buy” rating and issued a $55.00 target price on shares of Intel in a research note on Monday, November 13th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Intel in a research note on Wednesday, November 1st. Finally, BMO Capital Markets upgraded Intel from a “market perform” rating to an “outperform” rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Intel presently has a consensus rating of “Buy” and a consensus target price of $43.68.

Shares of Intel Corporation (NASDAQ INTC) traded up $0.01 on Wednesday, reaching $43.45. 27,649,759 shares of the company were exchanged, compared to its average volume of 23,632,777. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $47.30. The stock has a market capitalization of $203,230.00, a PE ratio of 13.99, a PEG ratio of 1.63 and a beta of 1.06. The company has a current ratio of 1.60, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. Intel had a net margin of 22.31% and a return on equity of 22.65%. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same period in the previous year, the company earned $0.80 earnings per share. Intel’s quarterly revenue was up 2.4% compared to the same quarter last year. analysts anticipate that Intel Corporation will post 3.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were issued a $0.2725 dividend. The ex-dividend date was Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.51%. Intel’s payout ratio is 38.25%.

In other news, CEO Brian M. Krzanich sold 61,860 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 543,948 shares in the company, valued at $21,072,545.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian M. Krzanich sold 889,878 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total transaction of $39,323,708.82. The disclosure for this sale can be found here. Insiders sold 1,548,914 shares of company stock valued at $68,196,589 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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About Intel

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 (NASDAQ:INTC)

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