Perritt Capital Management Inc. Sells 900 Shares of Intel Co. (INTC)
Perritt Capital Management Inc. cut its stake in Intel Co. (NASDAQ:INTC) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,089 shares of the chip maker’s stock after selling 900 shares during the period. Perritt Capital Management Inc.’s holdings in Intel were worth $438,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edmond DE Rothschild Monaco purchased a new position in shares of Intel during the third quarter valued at about $113,000. Jacobus Wealth Management Inc. bought a new position in shares of Intel during the third quarter worth $119,000. Roble Belko & Company Inc increased its position in shares of Intel by 6.4% in the third quarter. Roble Belko & Company Inc now owns 3,346 shares of the chip maker’s stock worth $126,000 after buying an additional 200 shares during the period. Fusion Family Wealth LLC bought a new position in shares of Intel during the fourth quarter worth $133,000. Finally, American Research & Management Co. increased its position in shares of Intel by 23.8% in the third quarter. American Research & Management Co. now owns 3,681 shares of the chip maker’s stock worth $139,000 after buying an additional 707 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 36.18 on Friday. The firm has a market capitalization of $171.06 billion, a P/E ratio of 17.07 and a beta of 1.03. Intel Co. has a 12-month low of $29.50 and a 12-month high of $38.45. The stock has a 50 day moving average price of $35.64 and a 200 day moving average price of $35.99.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The firm earned $16.40 billion during the quarter, compared to the consensus estimate of $15.75 billion. Intel had a return on equity of 20.95% and a net margin of 17.37%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Equities analysts anticipate that Intel Co. will post $2.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Sunday, May 7th will be given a dividend of $0.2725 per share. 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. This is a positive change from Intel’s previous quarterly dividend of $0.26. Intel’s payout ratio is 49.29%.
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A number of research analysts recently weighed in on INTC shares. Deutsche Bank AG restated a “buy” rating and set a $47.00 price objective on shares of Intel in a research report on Tuesday, January 24th. Sanford C. Bernstein cut shares of Intel from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $36.00 to $30.00 in a report on Tuesday, February 28th. Wells Fargo & Co reaffirmed a “top pick” rating and set a $45.00 target price on shares of Intel in a report on Tuesday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 target price on shares of Intel in a report on Friday, January 27th. Finally, Morgan Stanley raised shares of Intel from an “underweight” rating to an “equal weight” rating and set a $38.00 target price for the company in a report on Friday, January 27th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $40.22.
In other news, CEO Brian M. Krzanich sold 72,172 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $35.21, for a total value of $2,541,176.12. Following the completion of the sale, the chief executive officer now owns 549,091 shares in the company, valued at $19,333,494.11. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diane M. Bryant sold 4,503 shares of the company’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $37.23, for a total value of $167,646.69. Following the completion of the sale, the executive vice president now owns 108,712 shares of the company’s stock, valued at approximately $4,047,347.76. The disclosure for this sale can be found here. Insiders have sold a total of 164,475 shares of company stock valued at $5,929,732 in the last quarter. 0.09% of the stock is currently owned by insiders.
Intel Company Profile
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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