Mackay Shields LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Mackay Shields LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 874,904 shares of the chip maker’s stock after selling 146,073 shares during the quarter. Mackay Shields LLC’s holdings in Intel were worth $52,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Evermay Wealth Management LLC increased its position in Intel by 11.6% during the 4th quarter. Evermay Wealth Management LLC now owns 32,930 shares of the chip maker’s stock worth $1,971,000 after purchasing an additional 3,413 shares in the last quarter. Busey Wealth Management increased its position in Intel by 1.4% during the 4th quarter. Busey Wealth Management now owns 342,333 shares of the chip maker’s stock worth $20,489,000 after purchasing an additional 4,878 shares in the last quarter. Houlihan Financial Resource Group Ltd. purchased a new stake in Intel during the 4th quarter worth about $524,000. Value Partner Investments Inc. purchased a new stake in Intel during the 4th quarter worth about $2,854,000. Finally, Chicago Equity Partners LLC grew its holdings in Intel by 186.0% in the 4th quarter. Chicago Equity Partners LLC now owns 170,100 shares of the chip maker’s stock valued at $10,180,000 after buying an additional 110,615 shares during the period. Hedge funds and other institutional investors own 60.10% of the company’s stock.

Several analysts have commented on the company. Deutsche Bank restated a “buy” rating and issued a $72.00 price target (up previously from $64.00) on shares of Intel in a report on Friday, January 24th. UBS Group lifted their price target on Intel from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 24th. Susquehanna Bancshares restated a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, January 22nd. Royal Bank of Canada restated a “sell” rating and issued a $56.00 price target on shares of Intel in a report on Friday, January 24th. Finally, Wedbush lifted their price target on Intel from $46.00 to $52.50 and gave the company an “underperform” rating in a report on Friday, January 24th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the company. Intel presently has a consensus rating of “Hold” and a consensus target price of $65.48.

Shares of NASDAQ INTC traded down $0.31 during midday trading on Friday, hitting $55.52. The stock had a trading volume of 60,720,893 shares, compared to its average volume of 24,387,230. The company has a market capitalization of $255.12 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.60 and a beta of 0.86. Intel Co. has a 1-year low of $42.86 and a 1-year high of $69.29. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $63.81 and a 200 day moving average price of $56.33.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 23rd. The chip maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $19.23 billion. Intel had a return on equity of 29.01% and a net margin of 29.25%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, research analysts forecast that Intel Co. will post 4.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, February 6th. This is a positive change from Intel’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 2.38%. Intel’s payout ratio is 27.10%.

In related news, Director Alyssa Henry purchased 15,400 shares of Intel stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $67.34 per share, with a total value of $1,037,036.00. Also, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $57.86, for a total value of $145,170.74. The disclosure for this sale can be found here. Insiders have sold a total of 28,381 shares of company stock worth $1,712,265 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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