North Star Asset Management Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,162 shares of the chip maker’s stock after selling 6,734 shares during the period. North Star Asset Management Inc.’s holdings in Intel were worth $6,470,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charter Trust Co. increased its stake in shares of Intel by 5.5% in the second quarter. Charter Trust Co. now owns 169,887 shares of the chip maker’s stock worth $8,445,000 after purchasing an additional 8,795 shares during the period. Federated Investors Inc. PA grew its position in Intel by 9.4% during the second quarter. Federated Investors Inc. PA now owns 2,494,092 shares of the chip maker’s stock worth $123,982,000 after buying an additional 213,973 shares in the last quarter. Riverhead Capital Management LLC grew its position in Intel by 24.8% during the second quarter. Riverhead Capital Management LLC now owns 158,422 shares of the chip maker’s stock worth $7,875,000 after buying an additional 31,456 shares in the last quarter. Credit Agricole S A grew its position in Intel by 55.4% during the second quarter. Credit Agricole S A now owns 236,902 shares of the chip maker’s stock worth $11,775,000 after buying an additional 84,458 shares in the last quarter. Finally, Tiverton Asset Management LLC grew its position in Intel by 25.9% during the second quarter. Tiverton Asset Management LLC now owns 565,725 shares of the chip maker’s stock worth $28,122,000 after buying an additional 116,374 shares in the last quarter. Institutional investors own 64.81% of the company’s stock.
Shares of INTC opened at $47.70 on Friday. The company has a market capitalization of $228.58 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.28 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51. Intel Co. has a one year low of $42.04 and a one year high of $57.60.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.15 by $0.25. The business had revenue of $19.16 billion for the quarter, compared to the consensus estimate of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. On average, sell-side analysts expect that Intel Co. will post 4.53 EPS for the current fiscal year.
Intel declared that its board has authorized a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, November 6th. Intel’s payout ratio is currently 34.68%.
In related news, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the transaction, the executive vice president now owns 30,324 shares in the company, valued at approximately $1,384,593.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The disclosure for this sale can be found here. 0.03% of the stock is owned by insiders.
A number of research firms recently weighed in on INTC. Wells Fargo & Co decreased their target price on Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, September 10th. Macquarie reissued a “buy” rating and set a $60.00 target price on shares of Intel in a research report on Monday, September 10th. UBS Group downgraded Intel from a “buy” rating to a “hold” rating in a research report on Thursday. DZ Bank reissued a “hold” rating and set a $50.00 target price on shares of Intel in a research report on Thursday. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $68.00 target price on shares of Intel in a research report on Thursday, August 9th. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Intel presently has a consensus rating of “Hold” and a consensus target price of $55.47.
Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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