Sterling Capital Management LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 24.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 196,339 shares of the chip maker’s stock after selling 63,042 shares during the quarter. Sterling Capital Management LLC’s holdings in Intel were worth $9,285,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of INTC. Wells Trecaso Financial Group LLC grew its holdings in shares of Intel by 22.0% in the second quarter. Wells Trecaso Financial Group LLC now owns 5,552 shares of the chip maker’s stock valued at $276,000 after acquiring an additional 1,000 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in Intel by 0.7% during the second quarter. Linscomb & Williams Inc. now owns 135,897 shares of the chip maker’s stock valued at $6,755,000 after purchasing an additional 1,007 shares during the period. Adviser Investments LLC lifted its position in shares of Intel by 1.2% during the second quarter. Adviser Investments LLC now owns 92,303 shares of the chip maker’s stock worth $4,588,000 after acquiring an additional 1,062 shares in the last quarter. Albion Financial Group UT raised its position in shares of Intel by 1.5% in the second quarter. Albion Financial Group UT now owns 72,208 shares of the chip maker’s stock worth $3,589,000 after buying an additional 1,079 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. increased its stake in Intel by 11.5% in the second quarter. Westbourne Investment Advisors Inc. now owns 10,650 shares of the chip maker’s stock valued at $529,000 after acquiring an additional 1,100 shares during the last quarter. 66.38% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Royal Bank of Canada restated a “neutral” rating and issued a $55.00 price objective on shares of Intel in a report on Wednesday, January 23rd. Macquarie set a $60.00 target price on shares of Intel and gave the company a “buy” rating in a research note on Monday, October 29th. BidaskClub cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. ValuEngine downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Citigroup raised their price target on shares of Intel from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.76.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Intel had a net margin of 29.72% and a return on equity of 30.08%. The company had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. During the same quarter in the previous year, the company earned $1.08 EPS. Intel’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Intel Co. will post 4.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be given a $0.315 dividend. This is a positive change from Intel’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.50%. Intel’s dividend payout ratio (DPR) is 27.51%.
Intel declared that its Board of Directors has approved a share repurchase program on Thursday, November 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the chip maker to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Navin Shenoy sold 1,626 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $48.62, for a total value of $79,056.12. Following the completion of the sale, the executive vice president now owns 51,913 shares in the company, valued at approximately $2,524,010.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan acquired 5,117 shares of the stock in a transaction that occurred on Thursday, November 29th. The stock was acquired at an average cost of $48.30 per share, for a total transaction of $247,151.10. Following the completion of the purchase, the chief executive officer now owns 131,839 shares in the company, valued at approximately $6,367,823.70. The disclosure for this purchase can be found here. Over the last three months, insiders sold 18,039 shares of company stock worth $870,162. Insiders own 0.03% of the company’s stock.
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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