Westchester Capital Management Inc. Has $12.48 Million Position in Intel Co. (NASDAQ:INTC)

Westchester Capital Management Inc. grew its holdings in Intel Co. (NASDAQ:INTC) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,253 shares of the chip maker’s stock after purchasing an additional 495 shares during the quarter. Intel makes up 4.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Westchester Capital Management Inc.’s holdings in Intel were worth $12,483,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Ogorek Anthony Joseph NY ADV grew its position in Intel by 500.0% during the 2nd quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after purchasing an additional 500 shares during the last quarter. Global Trust Asset Management LLC grew its position in Intel by 273.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after purchasing an additional 2,442 shares during the last quarter. Next Capital Management LLC purchased a new stake in Intel during the 2nd quarter worth approximately $48,000. Intercontinental Wealth Advisors LLC grew its position in Intel by 83.0% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after purchasing an additional 450 shares during the last quarter. Finally, Lenox Wealth Advisors LLC grew its position in Intel by 117.4% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.

Shares of INTC stock traded up $0.22 during trading hours on Friday, hitting $58.27. The company’s stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The company has a 50 day moving average of $52.89 and a 200 day moving average of $49.43. The stock has a market cap of $250.34 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. Intel Co. has a 12-month low of $42.86 and a 12-month high of $59.59.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business had revenue of $19.19 billion during the quarter, compared to analysts’ expectations of $18.07 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post 4.61 earnings per share for the current fiscal year.

Intel announced that its Board of Directors has initiated a share buyback plan on Thursday, October 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the chip maker to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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

In other news, CEO Robert Holmes Swan acquired 10,918 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $45.70 per share, with a total value of $498,952.60. Following the completion of the acquisition, the chief executive officer now owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navin Shenoy sold 1,404 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.94, for a total transaction of $78,539.76. Following the completion of the sale, the executive vice president now directly owns 58,168 shares of the company’s stock, valued at approximately $3,253,917.92. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock valued at $911,044 in the last three months. 0.02% of the stock is currently owned by insiders.

INTC has been the topic of several research analyst reports. Tigress Financial reissued a “buy” rating on shares of Intel in a research report on Friday, August 30th. Morgan Stanley boosted their target price on shares of Intel from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Northland Securities reissued a “buy” rating and set a $69.00 target price on shares of Intel in a research report on Tuesday, November 5th. Barclays boosted their target price on shares of Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Wedbush boosted their target price on shares of Intel from $42.90 to $46.00 and gave the stock an “underperform” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Intel has an average rating of “Hold” and a consensus target price of $55.81.

Intel 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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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