Truepoint Inc. grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 2,054.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,718 shares of the chip maker’s stock after buying an additional 17,849 shares during the quarter. Truepoint Inc.’s holdings in Intel were worth $930,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Baird Financial Group Inc. raised its holdings in shares of Intel by 5.9% in the 1st quarter. Baird Financial Group Inc. now owns 1,922,881 shares of the chip maker’s stock valued at $100,143,000 after purchasing an additional 106,635 shares during the period. Allen Capital Group LLC bought a new stake in shares of Intel in the 2nd quarter valued at about $211,000. Baxter Bros Inc. raised its holdings in shares of Intel by 11.5% in the 2nd quarter. Baxter Bros Inc. now owns 220,571 shares of the chip maker’s stock valued at $10,965,000 after purchasing an additional 22,783 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Intel by 1.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,297,968 shares of the chip maker’s stock valued at $67,598,000 after purchasing an additional 12,285 shares during the period. Finally, Mutual of Omaha Bank Wealth Management raised its holdings in shares of Intel by 4.2% in the 2nd quarter. Mutual of Omaha Bank Wealth Management now owns 29,713 shares of the chip maker’s stock valued at $1,477,000 after purchasing an additional 1,205 shares during the period. 64.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the sale, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.25. Intel had a net margin of 21.91% and a return on equity of 29.64%. The firm had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Equities analysts expect that Intel Co. will post 4.53 earnings per share for the current fiscal year.
Intel announced that its Board of Directors has authorized a share buyback program on Thursday, November 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.55%. Intel’s payout ratio is presently 34.68%.
A number of brokerages have recently issued reports on INTC. Cowen dropped their target price on shares of Intel from $54.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. Wells Fargo & Co dropped their target price on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Macquarie reaffirmed a “buy” rating and issued a $60.00 target price on shares of Intel in a report on Monday, September 10th. Barclays cut shares of Intel from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $62.00 to $53.00 in a report on Monday, August 6th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $68.00 price target on shares of Intel in a research note on Thursday, August 9th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.56.
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Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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