Manchester Capital Management LLC Has $946,000 Position in Intel Co. (INTC)
Manchester Capital Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 11.1% in the third quarter, HoldingsChannel.com reports. The firm owned 24,852 shares of the chip maker’s stock after selling 3,103 shares during the quarter. Manchester Capital Management LLC’s holdings in Intel were worth $946,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Financial Engines Advisors L.L.C. bought a new position in Intel during the third quarter worth about $119,000. Acrospire Investment Management LLC lifted its holdings in shares of Intel by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after purchasing an additional 1,900 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Intel by 47.1% in the third quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock valued at $147,000 after purchasing an additional 1,233 shares in the last quarter. Family Capital Trust Co lifted its holdings in shares of Intel by 350.0% in the third quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock valued at $171,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Burt Wealth Advisors lifted its holdings in shares of Intel by 236.1% in the second quarter. Burt Wealth Advisors now owns 4,941 shares of the chip maker’s stock valued at $166,000 after purchasing an additional 3,471 shares in the last quarter. 67.48% of the stock is owned by institutional investors and hedge funds.
In other Intel news, CEO Brian M. Krzanich sold 889,878 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total transaction of $39,323,708.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Venkata S. M. Renduchintala sold 17,946 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $49.07, for a total value of $880,610.22. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at approximately $75,371.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 932,755 shares of company stock worth $41,387,752. Company insiders own 0.08% of the company’s stock.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.34 billion. Intel had a return on equity of 24.33% and a net margin of 15.30%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. equities analysts forecast that Intel Co. will post 3.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, February 6th. This is an increase from Intel’s previous quarterly dividend of $0.27. Intel’s payout ratio is 60.61%.
A number of brokerages have recently commented on INTC. Sanford C. Bernstein set a $34.00 price target on Intel and gave the company a “sell” rating in a report on Wednesday, January 10th. Needham & Company LLC boosted their price target on Intel from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 26th. SunTrust Banks restated a “hold” rating and issued a $50.00 price target on shares of Intel in a report on Friday, January 26th. Vetr lowered Intel from a “strong-buy” rating to a “buy” rating and set a $49.51 price target on the stock. in a report on Wednesday, January 17th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $55.00 price target on shares of Intel in a report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company. Intel has an average rating of “Buy” and a consensus target price of $49.33.
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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