Ashmore Wealth Management LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,710,117 shares of the chip maker’s stock after selling 49,177 shares during the period. Intel accounts for 7.9% of Ashmore Wealth Management LLC’s portfolio, making the stock its 4th largest position. Ashmore Wealth Management LLC’s holdings in Intel were worth $134,566,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in INTC. Independent Portfolio Consultants Inc. increased its stake in shares of Intel by 100.7% in the third quarter. Independent Portfolio Consultants Inc. now owns 4,046 shares of the chip maker’s stock valued at $153,000 after buying an additional 2,030 shares during the period. Franklin Street Advisors Inc. NC increased its stake in shares of Intel by 4.3% in the third quarter. Franklin Street Advisors Inc. NC now owns 32,584 shares of the chip maker’s stock valued at $1,230,000 after buying an additional 1,358 shares during the period. Private Asset Management Inc. increased its stake in shares of Intel by 0.4% in the third quarter. Private Asset Management Inc. now owns 448,140 shares of the chip maker’s stock valued at $16,917,000 after buying an additional 1,914 shares during the period. McQueen Ball & Associates Inc. increased its stake in shares of Intel by 1.3% in the third quarter. McQueen Ball & Associates Inc. now owns 74,321 shares of the chip maker’s stock valued at $2,806,000 after buying an additional 930 shares during the period. Finally, Summit Financial Wealth Advisors LLC increased its stake in shares of Intel by 24.1% in the third quarter. Summit Financial Wealth Advisors LLC now owns 101,041 shares of the chip maker’s stock valued at $3,814,000 after buying an additional 19,612 shares during the period. Hedge funds and other institutional investors own 65.90% of the company’s stock.
Shares of Intel Co. (NASDAQ:INTC) opened at 35.43 on Tuesday. The firm has a 50-day moving average of $36.08 and a 200 day moving average of $36.14. The stock has a market cap of $167.51 billion, a PE ratio of 16.71 and a beta of 1.03. Intel Co. has a 52 week low of $29.50 and a 52 week high of $38.45.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The firm had revenue of $16.40 billion for the quarter, compared to analyst estimates of $15.75 billion. Intel had a net margin of 17.37% and a return on equity of 20.95%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, equities analysts forecast that Intel Co. will post $2.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.94%. Intel’s payout ratio is currently 49.29%.
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Several equities research analysts recently weighed in on INTC shares. Vetr raised shares of Intel from a “buy” rating to a “strong-buy” rating and set a $40.65 price target for the company in a research report on Monday, February 6th. Needham & Company LLC raised their price target on shares of Intel from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Morgan Stanley reissued an “underweight” rating on shares of Intel in a research report on Tuesday, December 6th. Instinet reaffirmed a “buy” rating and issued a $35.50 target price on shares of Intel in a research report on Tuesday, November 29th. Finally, Credit Suisse Group AG lifted their target price on shares of Intel from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.99.
In other news, CEO Brian M. Krzanich sold 72,172 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $35.21, for a total value of $2,541,176.12. Following the sale, the chief executive officer now owns 549,091 shares in the company, valued at $19,333,494.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 79,051 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $36.49, for a total transaction of $2,884,570.99. Following the completion of the sale, the chief executive officer now owns 394,406 shares in the company, valued at approximately $14,391,874.94. The disclosure for this sale can be found here. Insiders sold 273,023 shares of company stock worth $9,898,612 in the last quarter. Company insiders own 0.09% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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