Anchor Capital Advisors LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,584 shares of the chip maker’s stock after selling 2,478 shares during the period. Anchor Capital Advisors LLC’s holdings in Intel were worth $2,912,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Wealthfront Inc. boosted its holdings in Intel by 28.4% during the 1st quarter. Wealthfront Inc. now owns 178,247 shares of the chip maker’s stock worth $9,283,000 after acquiring an additional 39,426 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Intel by 7.8% in the 1st quarter. Johnson Financial Group Inc. now owns 122,197 shares of the chip maker’s stock worth $6,364,000 after buying an additional 8,803 shares during the last quarter. Vantage Financial Partners Ltd. Inc. raised its stake in Intel by 11.3% in the 1st quarter. Vantage Financial Partners Ltd. Inc. now owns 10,875 shares of the chip maker’s stock valued at $566,000 after acquiring an additional 1,100 shares during the period. ING Groep NV bought a new stake in Intel in the 1st quarter valued at about $1,422,000. Finally, Focused Wealth Management Inc raised its stake in Intel by 5.8% in the 1st quarter. Focused Wealth Management Inc now owns 48,296 shares of the chip maker’s stock valued at $2,515,000 after acquiring an additional 2,646 shares during the period. 64.42% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:INTC traded up $0.82 on Monday, reaching $50.13. The stock had a trading volume of 29,939,477 shares, compared to its average volume of 29,377,648. Intel Co. has a 1-year low of $42.04 and a 1-year high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The firm has a market cap of $230.69 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90.
Intel announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.39%. Intel’s dividend payout ratio is presently 34.68%.
In related 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 value of $295,945.00. Following the sale, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Holmes Swan acquired 5,117 shares of the stock in a transaction that occurred on Thursday, November 29th. The stock was purchased at an average price of $48.30 per share, for a total transaction of $247,151.10. Following the completion of the purchase, the chief executive officer now directly owns 131,839 shares in the company, valued at approximately $6,367,823.70. The disclosure for this purchase can be found here. 0.03% of the stock is owned by company insiders.
Several analysts have issued reports on INTC shares. Morningstar set a $65.00 target price on Intel and gave the stock a “buy” rating in a research note on Monday, October 1st. Morgan Stanley lowered Intel from an “equal” rating to a “weight” rating in a research note on Monday, October 1st. BidaskClub downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Nomura reiterated a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Friday, August 10th. Finally, Macquarie set a $60.00 price objective on Intel and gave the stock a “buy” rating in a report on Sunday, September 30th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have given a buy rating to the stock. Intel presently has an average rating of “Hold” and a consensus price target of $55.47.
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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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