Adams Chetwood Wealth Management LLC decreased its position in Intel Co. (NASDAQ:INTC) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,533 shares of the chip maker’s stock after selling 200 shares during the quarter. Adams Chetwood Wealth Management LLC’s holdings in Intel were worth $211,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Intel during the fourth quarter worth $2,966,694,000. BlackRock Inc. increased its position in shares of Intel by 2.9% during the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after acquiring an additional 8,659,315 shares during the period. Renaissance Technologies LLC increased its position in shares of Intel by 2,208.0% during the fourth quarter. Renaissance Technologies LLC now owns 4,181,894 shares of the chip maker’s stock worth $250,286,000 after acquiring an additional 4,000,700 shares during the period. FIL Ltd increased its position in shares of Intel by 43.3% during the fourth quarter. FIL Ltd now owns 10,308,613 shares of the chip maker’s stock worth $616,970,000 after acquiring an additional 3,115,025 shares during the period. Finally, Swiss National Bank increased its position in shares of Intel by 20.9% during the first quarter. Swiss National Bank now owns 16,882,304 shares of the chip maker’s stock worth $913,670,000 after acquiring an additional 2,913,600 shares during the period. 65.04% of the stock is currently owned by institutional investors.
In related news, EVP Steven Ralph Rodgers sold 38,220 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total transaction of $2,293,200.00. Following the completion of the transaction, the executive vice president now directly owns 89,013 shares of the company’s stock, valued at $5,340,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Navin Shenoy sold 2,848 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $58.83, for a total transaction of $167,547.84. Following the completion of the transaction, the executive vice president now directly owns 77,709 shares of the company’s stock, valued at $4,571,620.47. The disclosure for this sale can be found here. Insiders have sold 98,547 shares of company stock valued at $5,862,050 over the last three months. 0.04% of the stock is currently owned by corporate insiders.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 23rd. The chip maker reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. The firm had revenue of $19.83 billion during the quarter, compared to analysts’ expectations of $18.65 billion. Intel had a net margin of 30.02% and a return on equity of 31.64%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that Intel Co. will post 4.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 7th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.32 annualized dividend and a yield of 2.14%. Intel’s dividend payout ratio is currently 27.10%.
A number of equities analysts recently commented on the stock. Susquehanna Bancshares reiterated a “hold” rating and set a $56.00 target price on shares of Intel in a research note on Tuesday, April 21st. SunTrust Banks boosted their target price on shares of Intel from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Wells Fargo & Co boosted their target price on shares of Intel from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Jefferies Financial Group boosted their target price on shares of Intel from $53.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Finally, Vertical Group assumed coverage on shares of Intel in a research note on Tuesday, March 24th. They set a “buy” rating for the company. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have given a buy rating to the company. Intel presently has a consensus rating of “Hold” and a consensus price target of $64.97.
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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