First Heartland Consultants Inc. Lowers Stake in Intel Co. (INTC)

First Heartland Consultants Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 17.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,234 shares of the chip maker’s stock after selling 1,727 shares during the period. First Heartland Consultants Inc.’s holdings in Intel were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in INTC. Charles Schwab Investment Advisory Inc. purchased a new stake in Intel during the 2nd quarter worth $204,242,000. Platinum Investment Management Ltd. boosted its position in Intel by 192.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after purchasing an additional 3,098,600 shares during the period. Millennium Management LLC boosted its position in Intel by 232.8% during the 1st quarter. Millennium Management LLC now owns 1,750,545 shares of the chip maker’s stock worth $91,168,000 after purchasing an additional 3,069,040 shares during the period. FIL Ltd boosted its position in Intel by 71.2% during the 1st quarter. FIL Ltd now owns 6,385,865 shares of the chip maker’s stock worth $332,575,000 after purchasing an additional 2,655,452 shares during the period. Finally, Cantillon Capital Management LLC purchased a new stake in Intel during the 2nd quarter worth $121,797,000. 64.81% of the stock is owned by hedge funds and other institutional investors.

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

In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the sale, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction dated 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 owns 30,324 shares in the company, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. 0.03% of the stock is owned by corporate insiders.

Shares of Intel stock opened at $46.54 on Friday. The stock has a market capitalization of $220.02 billion, a PE ratio of 13.45, a P/E/G ratio of 1.23 and a beta of 0.88. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. Intel Co. has a 1 year low of $42.04 and a 1 year high of $57.60.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.25. The business had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. Sell-side analysts forecast that Intel Co. will post 4.53 earnings per share for the current year.

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

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

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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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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