Intel Co. (NASDAQ:INTC) is Palladium Partners LLC’s 9th Largest Position
Palladium Partners LLC raised its holdings in Intel Co. (NASDAQ:INTC) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 530,315 shares of the chip maker’s stock after buying an additional 15,788 shares during the period. Intel makes up approximately 2.0% of Palladium Partners LLC’s holdings, making the stock its 9th biggest holding. Palladium Partners LLC’s holdings in Intel were worth $31,740,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in INTC. BlackRock Inc. grew its position in Intel by 0.3% in the 2nd quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock worth $14,029,440,000 after purchasing an additional 961,771 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Intel by 762.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,174,969 shares of the chip maker’s stock valued at $215,136,000 after acquiring an additional 3,691,057 shares during the period. Armstrong Henry H Associates Inc. boosted its position in Intel by 0.3% in the third quarter. Armstrong Henry H Associates Inc. now owns 521,282 shares of the chip maker’s stock worth $26,862,000 after purchasing an additional 1,507 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Intel in the third quarter worth about $482,000. Finally, Signaturefd LLC boosted its position in Intel by 7.4% in the third quarter. Signaturefd LLC now owns 43,605 shares of the chip maker’s stock worth $2,247,000 after purchasing an additional 3,021 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.
Several research firms have recently commented on INTC. Cowen upped their price target on shares of Intel from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Tuesday, January 21st. BMO Capital Markets reissued a “market perform” rating and issued a $65.00 price objective on shares of Intel in a report on Friday, January 24th. Barclays raised their price objective on shares of Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Bank of America restated a “buy” rating and set a $75.00 target price (up from $70.00) on shares of Intel in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of Intel from an “underperform” rating to a “hold” rating and upped their target price for the company from $40.00 to $64.00 in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.48.
Shares of INTC stock traded down $0.17 on Friday, hitting $67.27. 13,346,464 shares of the stock traded hands, compared to its average volume of 23,265,895. The firm has a market cap of $283.95 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.78 and a beta of 0.86. Intel Co. has a 52 week low of $42.86 and a 52 week high of $69.29. The firm has a 50 day simple moving average of $62.47 and a two-hundred day simple moving average of $55.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 1.01.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 23rd. The chip maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.27. Intel had a net margin of 29.25% and a return on equity of 29.01%. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Intel’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Intel Co. will post 4.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.96%. Intel’s dividend payout ratio (DPR) is currently 27.10%.
Intel declared that its Board of Directors has authorized a share buyback program on Thursday, October 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the chip maker to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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