New England Research & Management Inc. raised its holdings in Intel Co. (NASDAQ:INTC) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,662 shares of the chip maker’s stock after purchasing an additional 725 shares during the period. Intel comprises approximately 2.3% of New England Research & Management Inc.’s holdings, making the stock its 5th largest holding. New England Research & Management Inc.’s holdings in Intel were worth $3,177,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in INTC. Nuveen Asset Management LLC raised its position in shares of Intel by 1,899.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock valued at $1,204,894,000 after purchasing an additional 23,911,014 shares in the last quarter. Davis Selected Advisers raised its position in shares of Intel by 806.0% in the 2nd quarter. Davis Selected Advisers now owns 7,473,706 shares of the chip maker’s stock valued at $357,766,000 after purchasing an additional 6,648,828 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Intel by 214.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock valued at $460,532,000 after purchasing an additional 6,564,340 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Intel by 762.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,174,969 shares of the chip maker’s stock valued at $215,136,000 after purchasing an additional 3,691,057 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in shares of Intel by 4,885.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock valued at $254,860,000 after purchasing an additional 2,497,476 shares in the last quarter. 67.21% of the stock is currently owned by institutional investors.
INTC traded up $0.22 during trading on Friday, reaching $58.27. 11,888,800 shares of the company were exchanged, compared to its average volume of 22,595,813. The stock has a market cap of $250.34 billion, a P/E ratio of 12.72, a PEG ratio of 1.66 and a beta of 0.93. The firm has a 50 day moving average of $52.89 and a 200 day moving average of $49.43. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. Intel Co. has a 52 week low of $42.86 and a 52 week high of $59.59.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.18. The firm had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. As a group, analysts forecast that Intel Co. will post 4.61 earnings per share for the current fiscal year.
Intel declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio (DPR) is presently 27.51%.
In other Intel news, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.34, for a total transaction of $141,357.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO George S. Davis purchased 5,458 shares of Intel stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $45.70 per share, with a total value of $249,430.60. Following the transaction, the chief financial officer now directly owns 13,276 shares in the company, valued at approximately $606,713.20. The disclosure for this purchase can be found here. Insiders have sold a total of 17,482 shares of company stock valued at $911,044 in the last quarter. 0.02% of the stock is currently owned by insiders.
A number of brokerages have issued reports on INTC. Robert W. Baird upped their target price on Intel from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Zacks Investment Research raised Intel from a “hold” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a research report on Monday, October 28th. Cascend Securities reaffirmed a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Intel in a research report on Friday, July 26th. Wells Fargo & Co boosted their price target on Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, Nomura set a $65.00 price target on Intel and gave the company a “buy” rating in a report on Friday, August 23rd. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.81.
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.
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