Sumitomo Life Insurance Co. reduced its stake in Intel Co. (NASDAQ:INTC) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,385 shares of the chip maker’s stock after selling 8,500 shares during the quarter. Intel comprises approximately 1.2% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 11th biggest holding. Sumitomo Life Insurance Co.’s holdings in Intel were worth $9,296,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Engines Advisors L.L.C. purchased a new position in shares of Intel during the third quarter worth approximately $119,000. Acrospire Investment Management LLC raised its stake in shares of Intel by 111.8% during the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after acquiring an additional 1,900 shares in the last quarter. Delphi Private Advisors LLC raised its stake in shares of Intel by 286.1% during the fourth quarter. Delphi Private Advisors LLC now owns 2,911 shares of the chip maker’s stock worth $134,000 after acquiring an additional 2,157 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Intel by 47.1% during the third quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock worth $147,000 after acquiring an additional 1,233 shares in the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new position in shares of Intel during the third quarter worth approximately $158,000. 69.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Brian M. Krzanich sold 5,873 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $45.58, for a total transaction of $267,691.34. Following the sale, the chief executive officer now owns 259,082 shares in the company, valued at approximately $11,808,957.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 8,967 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.67, for a total transaction of $436,423.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,914 shares of company stock worth $6,011,490. Company insiders own 0.03% of the company’s stock.
Several research analysts recently commented on the stock. Vetr downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $54.70 target price on the stock. in a research note on Wednesday. Macquarie reaffirmed a “buy” rating and issued a $58.00 target price on shares of Intel in a research note on Thursday, April 12th. ValuEngine raised shares of Intel from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 27th. Wells Fargo lifted their target price on shares of Intel from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, March 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $61.00 target price (up from $52.00) on shares of Intel in a research note on Thursday, March 8th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $50.87.
NASDAQ:INTC opened at $53.54 on Wednesday. The firm has a market capitalization of $242,617.52, a P/E ratio of 15.47, a P/E/G ratio of 1.74 and a beta of 0.95. Intel Co. has a twelve month low of $33.23 and a twelve month high of $53.78. The company has a current ratio of 1.69, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. Intel had a net margin of 15.30% and a return on equity of 24.33%. The business had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.34 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. analysts predict that Intel Co. will post 3.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Friday, May 4th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
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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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