Intel Co. (INTC) Stake Reduced by Edge Asset Management Inc.
Edge Asset Management Inc. decreased its stake in Intel Co. (NASDAQ:INTC) by 47.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,865 shares of the chip maker’s stock after selling 208,015 shares during the period. Edge Asset Management Inc.’s holdings in Intel were worth $8,192,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC boosted its position in Intel by 1.5% in the third quarter. HighPoint Advisor Group LLC now owns 36,790 shares of the chip maker’s stock worth $1,288,000 after buying an additional 556 shares during the last quarter. Court Place Advisors LLC boosted its position in Intel by 2.1% in the third quarter. Court Place Advisors LLC now owns 128,070 shares of the chip maker’s stock worth $4,835,000 after buying an additional 2,638 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Intel by 3.6% in the third quarter. Raymond James Trust N.A. now owns 214,209 shares of the chip maker’s stock valued at $8,086,000 after buying an additional 7,374 shares in the last quarter. Private Asset Management Inc. boosted its stake in 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 in the last quarter. Finally, Albion Financial Group UT boosted its stake in Intel by 237.5% in the third quarter. Albion Financial Group UT now owns 80,767 shares of the chip maker’s stock valued at $3,049,000 after buying an additional 56,838 shares in the last quarter. 65.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intel Co. (NASDAQ:INTC) traded up 0.58% during mid-day trading on Friday, hitting $36.39. The stock had a trading volume of 2,284,813 shares. The stock’s 50-day moving average price is $35.64 and its 200 day moving average price is $35.99. The company has a market capitalization of $172.05 billion, a P/E ratio of 17.17 and a beta of 1.03. Intel Co. has a 1-year low of $29.50 and a 1-year high of $38.45.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 26th. The chip maker reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. Intel had a return on equity of 20.95% and a net margin of 17.37%. The business earned $16.40 billion during the quarter, compared to the consensus estimate of $15.75 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Intel Co. will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Sunday, May 7th will be given a $0.2725 dividend. This is an increase from Intel’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, May 3rd. Intel’s dividend payout ratio (DPR) is currently 49.29%.
Several analysts recently issued reports on INTC shares. Vetr raised shares of Intel from a “buy” rating to a “strong-buy” rating and set a $40.65 price target on the stock in a report on Monday, February 6th. Needham & Company LLC boosted their target price on shares of Intel from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Credit Suisse Group AG boosted their target price on shares of Intel from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating and set a $38.00 target price for the company in a research note on Friday, January 27th. Finally, Wells Fargo & Co reiterated a “top pick” rating and set a $45.00 target price on shares of Intel in a research note on Tuesday, January 3rd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $40.22.
In other news, EVP Diane M. Bryant sold 55,821 shares of Intel stock in a transaction on Friday, February 24th. The stock was sold at an average price of $36.34, for a total value of $2,028,535.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 72,172 shares of Intel 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 completion of the transaction, the chief executive officer now owns 549,091 shares of the company’s stock, valued at $19,333,494.11. The disclosure for this sale can be found here. Insiders sold 164,475 shares of company stock valued at $5,929,732 over the last three months. Company insiders own 0.09% of the company’s stock.
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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