Insight 2811 Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,384 shares of the chip maker’s stock after selling 1,134 shares during the period. Insight 2811 Inc.’s holdings in Intel were worth $466,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of INTC. Charles Schwab Investment Advisory Inc. bought a new position in Intel in the second quarter worth about $204,242,000. Platinum Investment Management Ltd. raised its stake in Intel by 192.0% in the first quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after buying an additional 3,098,600 shares in the last quarter. Millennium Management LLC raised its stake in Intel by 232.8% in the first quarter. Millennium Management LLC now owns 1,750,545 shares of the chip maker’s stock worth $91,168,000 after buying an additional 3,069,040 shares in the last quarter. FIL Ltd raised its stake in Intel by 71.2% in the first quarter. FIL Ltd now owns 6,385,865 shares of the chip maker’s stock worth $332,575,000 after buying an additional 2,655,452 shares in the last quarter. Finally, Cantillon Capital Management LLC bought a new position in Intel in the second quarter worth about $121,797,000. Institutional investors own 64.81% of the company’s stock.
In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’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 value of $295,945.00. Following the sale, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the firm’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 completion of 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 company insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. On average, sell-side analysts anticipate that Intel Co. will post 4.53 EPS for the current fiscal year.
Intel announced that its Board of Directors has initiated a stock buyback 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 buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is currently 34.68%.
A number of equities analysts recently issued reports on INTC shares. Zacks Investment Research raised shares of Intel from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Wednesday, September 26th. BidaskClub downgraded shares of Intel from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Evercore ISI reissued a “hold” rating on shares of Intel in a research note on Sunday, October 28th. Royal Bank of Canada decreased their price target on shares of Intel from $57.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, October 1st. Finally, Cowen increased their price target on shares of Intel from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, October 26th. 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 stock. The stock has an average rating of “Hold” and a consensus target price of $55.56.
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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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