BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Intel Co. (INTC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Intel Co. (NASDAQ:INTC) by 17.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,239,696 shares of the chip maker’s stock after selling 469,871 shares during the quarter. Intel accounts for about 1.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 13th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Intel were worth $111,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Intel by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,906,186 shares of the chip maker’s stock valued at $2,651,194,000 after purchasing an additional 295,380 shares during the last quarter. LSV Asset Management raised its position in Intel by 1.2% during the 2nd quarter. LSV Asset Management now owns 25,064,455 shares of the chip maker’s stock valued at $1,245,954,000 after purchasing an additional 304,293 shares during the last quarter. Fisher Asset Management LLC raised its position in Intel by 3.3% during the 2nd quarter. Fisher Asset Management LLC now owns 23,435,777 shares of the chip maker’s stock valued at $1,164,993,000 after purchasing an additional 745,116 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Intel by 9.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,714,536 shares of the chip maker’s stock valued at $781,170,000 after purchasing an additional 1,308,534 shares during the last quarter. Finally, Swiss National Bank raised its position in Intel by 3.1% during the 2nd quarter. Swiss National Bank now owns 15,473,602 shares of the chip maker’s stock valued at $769,193,000 after purchasing an additional 458,600 shares during the last quarter. Institutional investors own 64.81% of the company’s stock.

Shares of NASDAQ:INTC opened at $46.54 on Friday. Intel Co. has a 52-week low of $42.04 and a 52-week high of $57.60. The company has a market capitalization of $220.02 billion, a PE ratio of 13.45, a PEG ratio of 1.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion for the quarter, compared to the consensus estimate of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. Equities research analysts forecast that Intel Co. will post 4.53 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. Intel’s payout ratio is currently 34.68%.

Intel announced that its board has authorized a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

INTC has been the subject of a number of recent analyst reports. UBS Group raised Intel from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. DZ Bank raised Intel from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Barclays lowered Intel from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $62.00 to $53.00 in a research report on Monday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Intel in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $68.00 price target on shares of Intel in a research report on Thursday, August 9th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Intel currently has an average rating of “Hold” and a consensus target price of $55.56.

In related news, 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 value of $102,050.10. Following the sale, the executive vice president now owns 30,324 shares in the company, valued at approximately $1,384,593.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the sale, the vice president now owns 14,271 shares in the company, valued at approximately $649,758.63. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.

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About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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