Princeton Portfolio Strategies Group LLC Decreases Holdings in Intel Co. (INTC)

Princeton Portfolio Strategies Group LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,311 shares of the chip maker’s stock after selling 1,407 shares during the quarter. Princeton Portfolio Strategies Group LLC’s holdings in Intel were worth $1,906,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quad Cities Investment Group LLC bought a new position in shares of Intel in the second quarter worth approximately $107,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Intel by 375.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after purchasing an additional 2,000 shares during the last quarter. Ironwood Financial llc grew its holdings in shares of Intel by 429.0% in the third quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock worth $125,000 after purchasing an additional 2,145 shares during the last quarter. Arlington Partners LLC bought a new position in shares of Intel in the third quarter worth approximately $151,000. Finally, Cerebellum GP LLC bought a new position in shares of Intel in the third quarter worth approximately $188,000. 66.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of INTC stock opened at $48.84 on Monday. Intel Co. has a 12 month low of $42.04 and a 12 month high of $57.60. The firm has a market cap of $228.49 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 0.34.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.06. Intel had a net margin of 29.72% and a return on equity of 30.08%. The firm had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Intel Co. will post 4.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Wednesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.30. Intel’s payout ratio is 27.51%.

Intel declared that its board has initiated a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the chip maker to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several research analysts have recently issued reports on the stock. BidaskClub cut shares of Intel from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Macquarie set a $60.00 price target on shares of Intel and gave the company a “buy” rating in a report on Monday, October 29th. UBS Group cut shares of Intel from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. ValuEngine upgraded shares of Intel from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. Finally, Evercore ISI reiterated a “hold” rating on shares of Intel in a report on Sunday, October 28th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Intel has an average rating of “Hold” and an average price target of $53.76.

In other news, EVP Navin Shenoy sold 1,626 shares of Intel stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.62, for a total value of $79,056.12. Following the completion of the transaction, the executive vice president now owns 51,913 shares of the company’s stock, valued at approximately $2,524,010.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert Holmes Swan purchased 5,117 shares of the stock in a transaction dated Thursday, November 29th. The stock was bought at an average cost of $48.30 per share, with a total value of $247,151.10. Following the transaction, the chief executive officer now owns 131,839 shares in the company, valued at $6,367,823.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 18,039 shares of company stock worth $870,162. Company insiders own 0.03% of the company’s stock.

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Intel 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.

Further Reading: Price-Sales Ratio

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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