Intel Corporation Announces Quarterly Dividend of $0.27 (INTC)
Intel Corporation (NASDAQ:INTC) announced a quarterly dividend on Thursday, September 14th, RTT News reports. Shareholders of record on Tuesday, November 7th will be paid a dividend of 0.2725 per share by the chip maker on Friday, December 1st. This represents a $1.09 dividend on an annualized basis and a yield of 3.00%.
Intel Corporation has increased its dividend payment by an average of 4.9% annually over the last three years and has raised its dividend every year for the last 2 years. Intel Corporation has a dividend payout ratio of 36.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intel Corporation to earn $3.09 per share next year, which means the company should continue to be able to cover its $1.09 annual dividend with an expected future payout ratio of 35.3%.
Shares of Intel Corporation (NASDAQ:INTC) opened at 36.38 on Thursday. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The firm has a 50-day moving average price of $35.49 and a 200-day moving average price of $35.51. The firm has a market capitalization of $170.95 billion, a price-to-earnings ratio of 13.89 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
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Several research firms recently weighed in on INTC. Jefferies Group LLC set a $38.00 price target on Intel Corporation and gave the company a “hold” rating in a research report on Saturday, June 3rd. B. Riley reissued a “buy” rating and set a $46.00 price target on shares of Intel Corporation in a research report on Friday, July 28th. Zacks Investment Research lowered Intel Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr raised Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price target on the stock in a research report on Monday, June 12th. Finally, Bank of America Corporation lowered Intel Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation has an average rating of “Hold” and an average price target of $40.55.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock worth $3,130,162 in the last ninety days. 0.08% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. raised its stake in Intel Corporation by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock worth $263,000 after buying an additional 29 shares during the period. Marathon Capital Management raised its stake in Intel Corporation by 0.7% during the 2nd quarter. Marathon Capital Management now owns 10,986 shares of the chip maker’s stock worth $371,000 after buying an additional 80 shares during the period. WealthTrust Fairport LLC raised its stake in Intel Corporation by 0.4% during the 2nd quarter. WealthTrust Fairport LLC now owns 32,181 shares of the chip maker’s stock worth $1,086,000 after buying an additional 120 shares during the period. Regal Investment Advisors LLC raised its stake in Intel Corporation by 0.8% during the 2nd quarter. Regal Investment Advisors LLC now owns 21,141 shares of the chip maker’s stock worth $713,000 after buying an additional 159 shares during the period. Finally, AMG Funds LLC raised its stake in Intel Corporation by 0.5% during the 2nd quarter. AMG Funds LLC now owns 46,307 shares of the chip maker’s stock worth $1,562,000 after buying an additional 210 shares during the period. 67.09% of the stock is currently owned by institutional investors and hedge funds.
Intel Corporation Company Profile
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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