Carnegie Capital Asset Management LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 29.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,203 shares of the chip maker’s stock after selling 38,454 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Intel were worth $4,566,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of INTC. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Intel during the second quarter valued at $204,242,000. Prudential Financial Inc. grew its holdings in Intel by 29.2% during the third quarter. Prudential Financial Inc. now owns 13,125,175 shares of the chip maker’s stock worth $620,690,000 after acquiring an additional 2,968,410 shares during the period. Vanguard Group Inc. grew its holdings in Intel by 0.8% during the third quarter. Vanguard Group Inc. now owns 358,346,977 shares of the chip maker’s stock worth $16,946,229,000 after acquiring an additional 2,892,357 shares during the period. Royal London Asset Management Ltd. acquired a new position in Intel during the second quarter worth about $97,339,000. Finally, American Century Companies Inc. grew its holdings in Intel by 23.1% during the third quarter. American Century Companies Inc. now owns 9,788,445 shares of the chip maker’s stock worth $462,896,000 after acquiring an additional 1,836,266 shares during the period. 63.78% of the stock is currently owned by institutional investors.
In other Intel news, Chairman Andy D. Bryant sold 11,734 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.03, for a total transaction of $622,254.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin Thomas Mcbride sold 518 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $51.33, for a total value of $26,588.94. Following the sale, the vice president now owns 8,274 shares of the company’s stock, valued at $424,704.42. The disclosure for this sale can be found here. Insiders have sold a total of 40,262 shares of company stock valued at $2,061,469 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.
A number of research firms recently issued reports on INTC. Northland Securities reaffirmed a “sell” rating and set a $38.00 target price on shares of Intel in a report on Friday. Deutsche Bank lifted their target price on Intel from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, February 26th. Morgan Stanley raised Intel from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $64.00 in a report on Friday, February 22nd. Needham & Company LLC lowered Intel from a “buy” rating to a “hold” rating and lowered their target price for the stock from $58.00 to $50.00 in a report on Friday, January 25th. Finally, Charter Equity reaffirmed a “mkt perform” rating on shares of Intel in a report on Friday, January 25th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.33.
NASDAQ:INTC opened at $54.33 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.73 and a quick ratio of 1.30. Intel Co. has a 1-year low of $42.36 and a 1-year high of $57.60. The firm has a market capitalization of $254.17 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.41 and a beta of 0.79.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.06. Intel had a return on equity of 30.08% and a net margin of 29.72%. The business had revenue of $18.66 billion during the quarter, compared to analyst estimates of $19.02 billion. During the same quarter last year, the company posted $1.08 EPS. Intel’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts expect that Intel Co. will post 4.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.32%. Intel’s payout ratio is presently 27.51%.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
See Also: Catch-Up Contributions
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.