Independence Trust CO Increases Stake in Intel Corporation (INTC)
Independence Trust CO lifted its holdings in Intel Corporation (NASDAQ:INTC) by 4.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 93,523 shares of the chip maker’s stock after purchasing an additional 4,070 shares during the period. Intel comprises 3.7% of Independence Trust CO’s holdings, making the stock its 11th biggest position. Independence Trust CO’s holdings in Intel were worth $3,154,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Watermark Asset Management Inc. purchased a new stake in shares of Intel in the 1st quarter worth approximately $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Intel by 53.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after purchasing an additional 1,400 shares during the period. Vigilant Capital Management LLC lifted its position in shares of Intel by 22.6% in the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after purchasing an additional 805 shares during the period. Winfield Associates Inc. lifted its position in shares of Intel by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after purchasing an additional 265 shares during the period. Finally, Farmers National Bank lifted its position in shares of Intel by 5.1% in the 1st quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock worth $183,000 after purchasing an additional 234 shares during the period. 67.70% of the stock is owned by hedge funds and other institutional investors.
INTC has been the subject of several recent analyst reports. Sanford C. Bernstein set a $30.00 price objective on shares of Intel and gave the stock a “sell” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Intel in a research note on Friday, October 6th. KeyCorp reiterated a “buy” rating and set a $50.00 price objective on shares of Intel in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price objective on shares of Intel in a research note on Friday, October 27th. Finally, Deutsche Bank reiterated a “buy” rating and set a $45.00 price objective on shares of Intel in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Intel currently has a consensus rating of “Buy” and a consensus price target of $43.40.
Intel Corporation (NASDAQ:INTC) opened at $44.68 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $47.30. The stock has a market cap of $209,851.20, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $15.73 billion. Intel had a net margin of 22.31% and a return on equity of 22.65%. Intel’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. equities research analysts expect that Intel Corporation will post 3.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were paid a $0.2725 dividend. The ex-dividend date was Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.44%. Intel’s payout ratio is currently 38.11%.
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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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