Grassi Investment Management raised its stake in Intel Co. (NASDAQ:INTC) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,491 shares of the chip maker’s stock after purchasing an additional 2,150 shares during the period. Grassi Investment Management’s holdings in Intel were worth $5,516,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in INTC. Beach Investment Management LLC. bought a new stake in shares of Intel in the second quarter valued at about $371,000. Legal & General Group Plc boosted its position in shares of Intel by 1.6% in the second quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock valued at $860,658,000 after acquiring an additional 412,747 shares during the period. Community Bank N.A. boosted its position in shares of Intel by 5.9% in the second quarter. Community Bank N.A. now owns 166,036 shares of the chip maker’s stock valued at $5,600,000 after acquiring an additional 9,293 shares during the period. Murphy Pohlad Asset Management LLC boosted its position in shares of Intel by 15.6% in the second quarter. Murphy Pohlad Asset Management LLC now owns 120,889 shares of the chip maker’s stock valued at $4,078,000 after acquiring an additional 16,340 shares during the period. Finally, Allegis Investment Advisors LLC boosted its position in shares of Intel by 6.2% in the second quarter. Allegis Investment Advisors LLC now owns 59,968 shares of the chip maker’s stock valued at $2,023,000 after acquiring an additional 3,485 shares during the period. Hedge funds and other institutional investors own 69.22% of the company’s stock.
In other news, CEO Brian M. Krzanich sold 8,659 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $49.40, for a total value of $427,754.60. Following the completion of the transaction, the chief executive officer now owns 263,382 shares of the company’s stock, valued at $13,011,070.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 8,967 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.67, for a total transaction of $436,423.89. The disclosure for this sale can be found here. Insiders sold 123,914 shares of company stock valued at $6,011,490 in the last three months. Company insiders own 0.08% of the company’s stock.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. The firm had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.34 billion. Intel had a net margin of 15.30% and a return on equity of 24.33%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. equities research analysts forecast that Intel Co. will post 3.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio is 60.61%.
A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein set a $34.00 target price on shares of Intel and gave the company a “sell” rating in a research report on Wednesday, January 10th. Needham & Company LLC boosted their target price on shares of Intel from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Vetr raised shares of Intel from a “hold” rating to a “buy” rating and set a $54.41 target price for the company in a research report on Monday. SunTrust Banks reissued a “hold” rating and issued a $50.00 target price on shares of Intel in a research report on Friday, January 26th. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $55.00 target price on shares of Intel in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Intel currently has an average rating of “Buy” and a consensus target price of $50.04.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/03/13/grassi-investment-management-grows-holdings-in-intel-co-intc.html.
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).
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.