Pacer Advisors Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,705 shares of the chip maker’s stock after selling 18,875 shares during the period. Intel accounts for about 0.5% of Pacer Advisors Inc.’s investment portfolio, making the stock its 20th largest position. Pacer Advisors Inc.’s holdings in Intel were worth $30,061,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in INTC. Norges Bank acquired a new stake in shares of Intel during the 4th quarter worth about $2,141,057,000. Baupost Group LLC MA acquired a new stake in shares of Intel during the 4th quarter worth about $906,005,000. Primecap Management Co. CA boosted its stake in shares of Intel by 28.1% during the 4th quarter. Primecap Management Co. CA now owns 32,574,166 shares of the chip maker’s stock worth $1,622,845,000 after purchasing an additional 7,151,405 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Intel by 100,766.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,195,650 shares of the chip maker’s stock worth $258,847,000 after purchasing an additional 5,190,499 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Intel by 161.7% during the 4th quarter. Toronto Dominion Bank now owns 7,957,652 shares of the chip maker’s stock worth $483,288,000 after purchasing an additional 4,916,921 shares during the last quarter. 63.25% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on INTC. Barclays raised their target price on shares of Intel from $50.00 to $53.00 and gave the stock an “underweight” rating in a research report on Friday, January 22nd. UBS Group set a $71.00 target price on shares of Intel and gave the stock a “buy” rating in a research report on Tuesday, January 19th. KeyCorp raised their target price on shares of Intel from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 22nd. JPMorgan Chase & Co. set a $80.00 target price on shares of Intel and gave the stock a “buy” rating in a research report on Wednesday. Finally, DZ Bank raised shares of Intel from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Wednesday, March 31st. Eleven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Intel has a consensus rating of “Hold” and an average price target of $63.64.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Wednesday, January 20th. The chip maker reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.42. The business had revenue of $19.98 billion during the quarter, compared to analyst estimates of $17.47 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, equities research analysts expect that Intel Co. will post 4.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 7th will be paid a $0.3475 dividend. The ex-dividend date of this dividend is Thursday, May 6th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.09%. Intel’s dividend payout ratio (DPR) is presently 28.54%.
In related news, CEO Robert Holmes Swan purchased 27,244 shares of the company’s stock in a transaction that occurred on Monday, January 25th. The stock was acquired at an average price of $55.57 per share, for a total transaction of $1,513,949.08. Following the completion of the purchase, the chief executive officer now owns 330,774 shares in the company, valued at $18,381,111.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO George S. Davis acquired 9,095 shares of the firm’s stock in a transaction on Tuesday, January 26th. The stock was acquired at an average cost of $55.34 per share, with a total value of $503,317.30. Following the acquisition, the chief financial officer now owns 71,223 shares of the company’s stock, valued at $3,941,480.82. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses 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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