Watch Point Trust Co lifted its position in Intel Co. (NASDAQ:INTC) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,562 shares of the chip maker’s stock after buying an additional 2,791 shares during the period. Intel comprises 2.7% of Watch Point Trust Co’s holdings, making the stock its 6th largest position. Watch Point Trust Co’s holdings in Intel were worth $5,079,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ogorek Anthony Joseph NY ADV boosted its stake in shares of Intel by 500.0% during the 2nd 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 last quarter. Fulcrum Capital LLC acquired a new stake in Intel in the 3rd quarter valued at about $201,000. Intercontinental Wealth Advisors LLC lifted its stake in Intel by 83.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after purchasing an additional 450 shares during the last quarter. Lenox Wealth Advisors LLC lifted its stake in Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after purchasing an additional 540 shares during the last quarter. Finally, Next Capital Management LLC acquired a new stake in Intel in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 67.21% of the company’s stock.
Intel stock traded up $0.22 during mid-day trading on Friday, reaching $58.27. The company 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 current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The company has a market cap of $250.34 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.93. The business has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $49.43.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.07 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that Intel Co. will post 4.61 EPS for the current year.
The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a dividend of $0.315 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.51%.
Intel declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several brokerages recently issued reports on INTC. ValuEngine downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Northland Securities reiterated a “buy” rating and issued a $69.00 target price on shares of Intel in a research note on Tuesday, November 5th. Robert W. Baird raised their target price on shares of Intel from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Cowen raised their target price on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Barclays raised their target price on shares of Intel from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fourteen have assigned 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.
In related news, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.34, for a total transaction of $141,357.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan purchased 10,918 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $45.70 per share, for a total transaction of $498,952.60. Following the completion of the acquisition, the chief executive officer now owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 17,482 shares of company stock worth $911,044. 0.02% of the stock is owned by corporate insiders.
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.
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