Asset Dedication LLC boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,573 shares of the chip maker’s stock after purchasing an additional 1,185 shares during the quarter. Asset Dedication LLC’s holdings in Intel were worth $2,572,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Public Employees Retirement Association of Colorado grew its stake in Intel by 4.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 824,718 shares of the chip maker’s stock worth $44,634,000 after buying an additional 32,604 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Intel by 9.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 4,090,372 shares of the chip maker’s stock worth $221,371,000 after acquiring an additional 361,025 shares during the period. Morgan Stanley boosted its position in Intel by 3.8% during the 1st quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after acquiring an additional 1,108,810 shares during the period. Tower Research Capital LLC TRC boosted its position in Intel by 802.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,604 shares of the chip maker’s stock worth $357,000 after acquiring an additional 5,872 shares during the period. Finally, Titus Wealth Management boosted its position in Intel by 2.4% during the 1st quarter. Titus Wealth Management now owns 9,456 shares of the chip maker’s stock worth $512,000 after acquiring an additional 224 shares during the period. Institutional investors own 64.41% of the company’s stock.
Several analysts have recently weighed in on INTC shares. 140166 restated a “hold” rating and issued a $58.00 price objective on shares of Intel in a report on Tuesday, July 14th. Bank of America downgraded Intel from a “buy” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $62.00 in a report on Friday, July 24th. Loop Capital reduced their target price on Intel from $59.00 to $50.00 and set a “sell” rating for the company in a report on Friday, July 24th. BofA Securities downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein downgraded Intel from a “market perform” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.24.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.12. The firm had revenue of $19.73 billion for the quarter, compared to the consensus estimate of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter last year, the business posted $1.06 EPS. On average, analysts expect that Intel Co. will post 4.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, November 6th. Intel’s dividend payout ratio is currently 27.10%.
In other Intel news, VP Kevin Thomas Mcbride sold 4,400 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $49.28, for a total transaction of $216,832.00. Following the transaction, the vice president now owns 14,214 shares of the company’s stock, valued at $700,465.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Holmes Swan purchased 8,021 shares of the stock in a transaction on Friday, July 24th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the transaction, the chief executive officer now owns 293,594 shares of the company’s stock, valued at $14,679,700. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,491 shares of company stock worth $365,878. 0.04% of the stock is owned by company insiders.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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