DNB Asset Management AS reduced its holdings in Intel Co. (NASDAQ:INTC) by 38.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,879,368 shares of the chip maker’s stock after selling 1,155,913 shares during the period. Intel makes up 1.1% of DNB Asset Management AS’s portfolio, making the stock its 17th largest holding. DNB Asset Management AS’s holdings in Intel were worth $88,199,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of INTC. Charter Trust Co. lifted its position in shares of Intel by 5.5% during the second quarter. Charter Trust Co. now owns 169,887 shares of the chip maker’s stock worth $8,445,000 after acquiring an additional 8,795 shares in the last quarter. Hartford Financial Management Inc. lifted its position in shares of Intel by 32.5% during the second quarter. Hartford Financial Management Inc. now owns 111,074 shares of the chip maker’s stock worth $5,521,000 after acquiring an additional 27,261 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Intel during the second quarter worth $1,158,000. Employees Retirement System of Texas lifted its position in shares of Intel by 99.7% during the second quarter. Employees Retirement System of Texas now owns 546,800 shares of the chip maker’s stock worth $27,181,000 after acquiring an additional 273,000 shares in the last quarter. Finally, Richard Bernstein Advisors LLC lifted its position in shares of Intel by 4.8% during the second quarter. Richard Bernstein Advisors LLC now owns 250,510 shares of the chip maker’s stock worth $12,453,000 after acquiring an additional 11,406 shares in the last quarter. 64.69% of the stock is owned by institutional investors and hedge funds.
In other Intel news, Chairman Andy D. Bryant sold 11,734 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $53.03, for a total value of $622,254.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Navin Shenoy sold 1,518 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $46.11, for a total transaction of $69,994.98. Following the completion of the sale, the executive vice president now owns 52,419 shares in the company, valued at approximately $2,417,040.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,431 shares of company stock worth $3,500,497. Corporate insiders own 0.02% of the company’s stock.
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. The company had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a net margin of 29.72% and a return on equity of 30.08%. Intel’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS. Research analysts forecast that Intel Co. will post 4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.15%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 27.51%.
A number of equities research analysts recently issued reports on INTC shares. Goldman Sachs Group reiterated a “sell” rating and issued a $44.00 price objective on shares of Intel in a research report on Tuesday, January 8th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $64.00 price objective on shares of Intel in a research report on Friday, January 25th. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, March 27th. BidaskClub raised Intel from a “hold” rating to a “buy” rating in a research note on Tuesday, December 25th. Finally, Sanford C. Bernstein set a $42.00 target price on Intel and gave the company a “sell” rating in a research note on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Intel has an average rating of “Hold” and an average price target of $55.40.
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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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