Narwhal Capital Management Increases Stock Position in Intel Co. (NASDAQ:INTC)

Narwhal Capital Management grew its stake in shares of Intel Co. (NASDAQ:INTC) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,848 shares of the chip maker’s stock after acquiring an additional 3,728 shares during the quarter. Intel comprises about 1.8% of Narwhal Capital Management’s investment portfolio, making the stock its 11th biggest holding. Narwhal Capital Management’s holdings in Intel were worth $8,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Intel by 0.6% in the second quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock worth $17,406,717,000 after purchasing an additional 2,219,241 shares during the last quarter. BlackRock Inc. increased its position in Intel by 0.3% in the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock worth $14,029,440,000 after purchasing an additional 961,771 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Intel by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,298,451 shares of the chip maker’s stock worth $1,450,387,000 after purchasing an additional 1,952,840 shares during the last quarter. Morgan Stanley increased its position in Intel by 8.2% in the second quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock worth $1,318,484,000 after purchasing an additional 2,081,749 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Intel by 1.9% in the third quarter. Fisher Asset Management LLC now owns 27,074,144 shares of the chip maker’s stock worth $1,395,131,000 after purchasing an additional 516,977 shares during the last quarter. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

Intel stock traded down $0.02 during trading hours on Friday, reaching $56.51. The stock had a trading volume of 17,951,100 shares, compared to its average volume of 19,579,870. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. Intel Co. has a 52 week low of $42.86 and a 52 week high of $59.59. The business’s 50 day moving average price is $52.14 and its 200-day moving average price is $49.44. The company has a market cap of $245.91 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.64 and a beta of 0.93.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.18. Intel had a return on equity of 28.28% and a net margin of 27.46%. The business had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.07 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Intel Co. will post 4.61 EPS for the current fiscal year.

Intel announced that its board has approved a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The business also recently disclosed a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.

In related news, CFO George S. Davis acquired 5,458 shares of the stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $45.70 per share, for a total transaction of $249,430.60. Following the transaction, the chief financial officer now owns 13,276 shares in the company, valued at approximately $606,713.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Holmes Swan acquired 10,918 shares of the stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $45.70 per share, for a total transaction of $498,952.60. Following the transaction, the chief executive officer now owns 168,955 shares in the company, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 13,569 shares of company stock worth $691,147. Insiders own 0.02% of the company’s stock.

INTC has been the topic of a number of analyst reports. Deutsche Bank reiterated a “buy” rating and set a $62.00 price objective (up previously from $60.00) on shares of Intel in a research report on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Intel from $47.00 to $48.00 and gave the company an “underperform” rating in a research report on Friday, October 25th. Cascend Securities reiterated a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Intel in a research report on Friday, July 26th. Credit Suisse Group reiterated an “outperform” rating and set a $65.00 price objective (up previously from $58.00) on shares of Intel in a research report on Friday, October 25th. They noted that the move was a valuation call. Finally, Loop Capital set a $50.00 price objective on shares of Intel and gave the company a “hold” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $55.81.

About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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