Strategic Investment Advisors MI trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,122 shares of the chip maker’s stock after selling 2,452 shares during the quarter. Strategic Investment Advisors MI’s holdings in Intel were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Intel by 39.2% during the 2nd quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock valued at $1,740,598,000 after purchasing an additional 8,197,324 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Intel during the first quarter worth $73,141,000. Nordea Investment Management AB raised its holdings in Intel by 116.0% during the second quarter. Nordea Investment Management AB now owns 14,478,112 shares of the chip maker’s stock valued at $863,186,000 after buying an additional 7,774,135 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intel by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 43,643,371 shares of the chip maker’s stock worth $2,611,183,000 after buying an additional 2,854,921 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Intel by 213.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,776,281 shares of the chip maker’s stock worth $166,105,000 after acquiring an additional 1,890,088 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.
Several research firms recently weighed in on INTC. Charter Equity restated a “hold” rating on shares of Intel in a report on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $75.00 price objective on shares of Intel in a report on Thursday, September 10th. BMO Capital Markets lowered their target price on shares of Intel from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Friday, July 24th. Loop Capital cut their target price on shares of Intel from $59.00 to $50.00 and set a “sell” rating for the company in a research report on Friday, July 24th. Finally, Goldman Sachs Group reaffirmed a “sell” rating and issued a $46.00 price target on shares of Intel in a research report on Monday, July 27th. Twelve analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.24.
In other Intel news, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the transaction, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert Holmes Swan bought 8,021 shares of Intel stock in a transaction dated Friday, July 24th. The shares were bought at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the transaction, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. In the last quarter, insiders sold 7,491 shares of company stock valued at $365,878. Corporate insiders own 0.04% of the company’s stock.
Shares of Intel stock opened at $54.16 on Friday. Intel Co. has a 12-month low of $43.63 and a 12-month high of $69.29. The stock has a market capitalization of $230.34 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.72. The company has a 50-day simple moving average of $50.81 and a 200 day simple moving average of $55.53. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The firm had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $18.54 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities analysts anticipate that Intel Co. will post 4.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%. Intel’s dividend payout ratio is 27.10%.
Intel Company Profile
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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