Altshuler Shaham Ltd purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,992 shares of the chip maker’s stock, valued at approximately $2,286,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its holdings in shares of Intel by 18.5% during the first quarter. Evergreen Capital Management LLC now owns 95,493 shares of the chip maker’s stock worth $4,973,000 after purchasing an additional 14,895 shares during the period. Modera Wealth Management LLC lifted its holdings in Intel by 8.2% in the first quarter. Modera Wealth Management LLC now owns 19,512 shares of the chip maker’s stock valued at $1,016,000 after acquiring an additional 1,478 shares during the period. Norinchukin Bank The lifted its holdings in Intel by 13.7% in the first quarter. Norinchukin Bank The now owns 804,929 shares of the chip maker’s stock valued at $41,921,000 after acquiring an additional 96,812 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in Intel by 0.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 736,061 shares of the chip maker’s stock valued at $38,334,000 after acquiring an additional 3,500 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Intel by 4.1% in the first quarter. Fisher Asset Management LLC now owns 22,690,661 shares of the chip maker’s stock valued at $1,181,730,000 after acquiring an additional 887,657 shares during the period. 64.81% of the stock is currently owned by institutional investors.
Shares of INTC opened at $49.31 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13. Intel Co. has a one year low of $42.04 and a one year high of $57.60. The company has a market cap of $230.69 billion, a P/E ratio of 14.25, a PEG ratio of 1.29 and a beta of 0.88.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The firm had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. As a group, equities analysts predict that Intel Co. will post 4.53 EPS for the current year.
Intel announced that its Board of Directors has approved a stock buyback program on Thursday, November 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, November 6th. Intel’s payout ratio is 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 stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the sale, the executive vice president now directly owns 30,324 shares in the company, valued at $1,384,593.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $295,945.00. Following the sale, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
A number of research analysts have issued reports on INTC shares. Barclays downgraded Intel from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $62.00 to $53.00 in a report on Monday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Intel in a report on Thursday, August 9th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $68.00 price target on shares of Intel in a report on Thursday, August 9th. Royal Bank of Canada reissued a “neutral” rating and issued a $57.00 price target on shares of Intel in a report on Thursday, August 9th. Finally, Sanford C. Bernstein set a $42.00 price target on Intel and gave the company a “sell” rating in a report on Thursday, August 9th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have assigned a buy rating to the 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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