Intel Co. (NASDAQ:INTC) Stock Position Increased by Principle Wealth Partners LLC

Principle Wealth Partners LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 452.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,833 shares of the chip maker’s stock after purchasing an additional 106,325 shares during the period. Intel comprises about 2.3% of Principle Wealth Partners LLC’s portfolio, making the stock its 10th biggest position. Principle Wealth Partners LLC’s holdings in Intel were worth $6,690,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Ogorek Anthony Joseph NY ADV increased its stake in shares of Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after buying an additional 500 shares during the period. Global Trust Asset Management LLC increased its stake in shares of Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after buying an additional 2,442 shares during the period. Next Capital Management LLC purchased a new stake in shares of Intel during the second quarter worth approximately $48,000. Intercontinental Wealth Advisors LLC increased its stake in shares of Intel by 83.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after buying an additional 450 shares during the period. Finally, Lenox Wealth Advisors LLC increased its stake in shares of Intel by 117.4% during the third quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after buying an additional 540 shares during the period. Institutional investors own 67.21% of the company’s stock.

INTC has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Rosenblatt Securities restated a “sell” rating on shares of Intel in a research note on Wednesday. Deutsche Bank restated a “buy” rating and set a $62.00 target price (up from $60.00) on shares of Intel in a research note on Friday, July 26th. Barclays upped their target price on shares of Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Loop Capital set a $50.00 target price on shares of Intel and gave the stock a “hold” rating in a research note on Friday, October 18th. Nine research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Intel presently has an average rating of “Hold” and an average price target of $55.81.

INTC traded up $0.22 on Friday, reaching $58.27. The company’s stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. Intel Co. has a fifty-two week low of $42.86 and a fifty-two week high of $59.59. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $52.89 and a two-hundred day moving average of $49.43. The company has a market capitalization of $250.34 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.93.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.18. Intel had a return on equity of 28.28% and a net margin of 27.46%. The company had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post 4.61 earnings per share for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.315 dividend. This represents a dividend yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s dividend payout ratio is presently 27.51%.

Intel announced that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Navin Shenoy sold 1,404 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.94, for a total transaction of $78,539.76. Following the sale, the executive vice president now directly owns 58,168 shares of the company’s stock, valued at $3,253,917.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan bought 10,918 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the completion of the transaction, the chief executive officer now directly owns 168,955 shares of the company’s stock, valued at $7,721,243.50. The disclosure for this purchase can be found here. Insiders sold a total of 17,482 shares of company stock worth $911,044 in the last three months. Company insiders own 0.02% of the company’s stock.

About Intel

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.

Further Reading: What is a stock buyback?

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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