Mcrae Capital Management Inc. reduced its holdings in Intel Co. (NASDAQ:INTC) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,628 shares of the chip maker’s stock after selling 200 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Intel were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Ogorek Anthony Joseph NY ADV grew its position in Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 500 shares during the period. Global Trust Asset Management LLC grew its position in Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock valued at $45,000 after acquiring an additional 2,442 shares during the period. Next Capital Management LLC purchased a new stake in Intel during the second quarter valued at about $48,000. Intercontinental Wealth Advisors LLC grew its position in Intel by 83.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after acquiring an additional 450 shares during the period. Finally, Lenox Wealth Advisors LLC grew its position in Intel by 117.4% during the third quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after acquiring an additional 540 shares during the period. Hedge funds and other institutional investors own 65.94% of the company’s stock.
In other Intel news, CEO Robert Holmes Swan bought 10,918 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the transaction, the chief executive officer now directly owns 168,955 shares in the company, valued at $7,721,243.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $51.18, for a total value of $128,410.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,541 shares of company stock worth $2,135,306. 0.02% of the stock is owned by insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts forecast that Intel Co. will post 4.38 earnings per share for the current year.
The firm also recently announced a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a $0.315 dividend. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s dividend payout ratio is currently 27.51%.
A number of equities research analysts have issued reports on the company. Benchmark assumed coverage on Intel in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Northland Securities restated a “hold” rating and set a $48.00 price objective on shares of Intel in a research note on Monday. Goldman Sachs Group restated a “sell” rating and set a $47.00 price objective on shares of Intel in a research note on Friday, July 26th. SunTrust Banks restated a “buy” rating and set a $58.00 price objective (up previously from $54.00) on shares of Intel in a research note on Friday, July 26th. Finally, UBS Group restated a “buy” rating and set a $58.00 price objective on shares of Intel in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have assigned a buy rating to the company. Intel presently has a consensus rating of “Hold” and a consensus price target of $53.79.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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