State of Alaska Department of Revenue Has $13.23 Million Position in Intel Corporation (INTC)

State of Alaska Department of Revenue reduced its position in Intel Corporation (NASDAQ:INTC) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,916 shares of the chip maker’s stock after selling 11,884 shares during the period. Intel Corporation comprises approximately 1.0% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 21st largest position. State of Alaska Department of Revenue’s holdings in Intel Corporation were worth $13,234,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Intel Corporation by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 48,281,810 shares of the chip maker’s stock worth $1,751,339,000 after buying an additional 1,049,817 shares in the last quarter. Norges Bank purchased a new position in shares of Intel Corporation during the fourth quarter worth approximately $1,684,790,000. AQR Capital Management LLC raised its position in shares of Intel Corporation by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 12,245,831 shares of the chip maker’s stock worth $444,156,000 after buying an additional 32,040 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Intel Corporation by 4.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,735,473 shares of the chip maker’s stock worth $389,376,000 after buying an additional 417,669 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Intel Corporation during the fourth quarter worth approximately $330,056,000. Hedge funds and other institutional investors own 68.14% of the company’s stock.

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

Intel Corporation (INTC) opened at 35.51 on Tuesday. The stock’s 50 day moving average is $36.01 and its 200 day moving average is $36.14. Intel Corporation has a 52 week low of $30.44 and a 52 week high of $38.45. The firm has a market cap of $167.22 billion, a price-to-earnings ratio of 15.37 and a beta of 0.98.

Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 27th. The chip maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Intel Corporation had a net margin of 18.57% and a return on equity of 21.48%. The company had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $14.80 billion. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that Intel Corporation will post $2.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th were issued a $0.2725 dividend. The ex-dividend date was Wednesday, May 3rd. This is an increase from Intel Corporation’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.07%. Intel Corporation’s dividend payout ratio (DPR) is 47.39%.

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A number of equities analysts have commented on INTC shares. Sanford C. Bernstein lowered shares of Intel Corporation from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Tuesday, February 28th. Zacks Investment Research upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, May 16th. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Intel Corporation in a report on Tuesday, March 28th. Vetr upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $37.50 price objective on the stock in a report on Monday, April 10th. Finally, B. Riley reiterated a “buy” rating and issued a $44.00 price objective on shares of Intel Corporation in a report on Wednesday, March 29th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.42.

In other news, insider Stacy J. Smith sold 29,497 shares of Intel Corporation stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $36.28, for a total value of $1,070,151.16. Following the sale, the insider now directly owns 318,654 shares in the company, valued at $11,560,767.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,997 shares of Intel Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $36.11, for a total transaction of $505,431.67. Following the completion of the sale, the insider now owns 1,536 shares in the company, valued at $55,464.96. The disclosure for this sale can be found here. Insiders sold 47,821 shares of company stock worth $1,734,851 over the last quarter. 0.09% of the stock is 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).

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