Commonwealth Bank of Australia grew its stake in Intel Co. (NASDAQ:INTC) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 945,166 shares of the chip maker’s stock after acquiring an additional 77,997 shares during the quarter. Commonwealth Bank of Australia’s holdings in Intel were worth $46,930,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its stake in shares of Intel by 5.9% in the first quarter. Baird Financial Group Inc. now owns 1,922,881 shares of the chip maker’s stock worth $100,143,000 after purchasing an additional 106,635 shares during the last quarter. Allen Capital Group LLC purchased a new stake in Intel during the second quarter valued at $211,000. Baxter Bros Inc. increased its position in Intel by 11.5% during the second quarter. Baxter Bros Inc. now owns 220,571 shares of the chip maker’s stock valued at $10,965,000 after acquiring an additional 22,783 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Intel by 1.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,297,968 shares of the chip maker’s stock valued at $67,598,000 after acquiring an additional 12,285 shares during the last quarter. Finally, Mutual of Omaha Bank Wealth Management increased its position in Intel by 4.2% during the second quarter. Mutual of Omaha Bank Wealth Management now owns 29,713 shares of the chip maker’s stock valued at $1,477,000 after acquiring an additional 1,205 shares during the last quarter. 64.81% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was 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 of the company’s stock, valued at $1,384,593.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the transaction, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
A number of analysts recently commented on the company. Wells Fargo & Co reduced their price objective on Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 10th. Macquarie reiterated a “buy” rating and set a $60.00 price objective on shares of Intel in a research report on Monday, September 10th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $68.00 price objective on shares of Intel in a research report on Thursday, August 9th. Barclays cut Intel from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $62.00 to $53.00 in a research report on Monday, August 6th. Finally, Sanford C. Bernstein set a $42.00 price objective on Intel and gave the company a “sell” rating in a research report on Thursday, August 9th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have given a buy rating to the company’s stock. Intel currently has a consensus rating of “Hold” and an average target price of $55.47.
NASDAQ INTC opened at $49.31 on Monday. The stock has a market capitalization of $230.69 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88. 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 twelve month low of $42.04 and a twelve month high of $57.60.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. The firm had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. Equities research analysts predict that Intel Co. will post 4.53 earnings per share for the current fiscal year.
Intel declared that its Board of Directors has approved a share repurchase plan on Thursday, November 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the chip maker to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is 34.68%.
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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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