First Republic Investment Management Inc. reduced its holdings in Intel Co. (NASDAQ:INTC) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,351,957 shares of the chip maker’s stock after selling 35,134 shares during the quarter. Intel comprises 0.9% of First Republic Investment Management Inc.’s investment portfolio, making the stock its 18th largest position. First Republic Investment Management Inc. owned approximately 0.07% of Intel worth $166,626,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of INTC. Midwest Professional Planners LTD. raised its stake in Intel by 10.7% during the first quarter. Midwest Professional Planners LTD. now owns 10,028 shares of the chip maker’s stock valued at $522,000 after buying an additional 966 shares during the last quarter. Kingfisher Capital LLC raised its stake in Intel by 9.6% during the first quarter. Kingfisher Capital LLC now owns 11,090 shares of the chip maker’s stock valued at $578,000 after buying an additional 967 shares during the last quarter. Fiduciary Group LLC raised its stake in Intel by 2.9% during the first quarter. Fiduciary Group LLC now owns 34,165 shares of the chip maker’s stock valued at $1,779,000 after buying an additional 969 shares during the last quarter. WealthTrust Fairport LLC raised its stake in Intel by 2.9% during the first quarter. WealthTrust Fairport LLC now owns 34,782 shares of the chip maker’s stock valued at $1,811,000 after buying an additional 971 shares during the last quarter. Finally, Wells Trecaso Financial Group LLC raised its stake in Intel by 22.0% during the second quarter. Wells Trecaso Financial Group LLC now owns 5,552 shares of the chip maker’s stock valued at $276,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the sale, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. Insiders sold 13,257 shares of company stock valued at $624,095 in the last ninety days. 0.03% of the stock is currently owned by corporate insiders.
Shares of INTC opened at $46.24 on Friday. 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 firm has a market capitalization of $223.39 billion, a P/E ratio of 13.36, a PEG ratio of 1.25 and a beta of 0.91.
Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 company had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Equities research analysts predict that Intel Co. will post 4.53 EPS for the current fiscal year.
Intel announced that its board has initiated a stock buyback plan on Thursday, November 15th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the chip maker to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, November 6th. Intel’s payout ratio is currently 34.68%.
A number of research analysts have issued reports on the company. BNP Paribas set a $53.00 price objective on Intel and gave the company a “neutral” rating in a research note on Tuesday. Northland Securities cut Intel from a “market perform” rating to an “under perform” rating in a research note on Tuesday. ValuEngine upgraded Intel from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. DZ Bank cut Intel from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Thursday, November 29th. Finally, UBS Group cut Intel from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the company. Intel has a consensus rating of “Hold” and an average target price of $55.60.
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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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