Cohen & Steers Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 46.4% in the third quarter, HoldingsChannel.com reports. The fund owned 289,456 shares of the chip maker’s stock after selling 250,484 shares during the period. Cohen & Steers Inc.’s holdings in Intel were worth $11,022,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Intel by 2.5% during the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after purchasing an additional 8,087,302 shares during the period. Capital World Investors lifted its position in Intel by 5.5% during the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after purchasing an additional 10,257,260 shares during the period. Capital Research Global Investors lifted its position in Intel by 9.1% during the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after purchasing an additional 10,744,753 shares during the period. Dimensional Fund Advisors LP lifted its position in Intel by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 50,998,381 shares of the chip maker’s stock worth $1,941,934,000 after purchasing an additional 397,082 shares during the period. Finally, Legal & General Group Plc lifted its position in Intel by 2.0% during the third quarter. Legal & General Group Plc now owns 26,011,028 shares of the chip maker’s stock worth $990,439,000 after purchasing an additional 502,225 shares during the period. 67.74% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on INTC. Nomura upped their price objective on shares of Intel from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Vetr cut shares of Intel from a “buy” rating to a “hold” rating and set a $49.39 price objective for the company. in a research report on Monday. Macquarie set a $55.00 target price on Intel and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Wells Fargo & Co set a $55.00 target price on Intel and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Citigroup initiated coverage on Intel in a research note on Tuesday, January 30th. They set a “buy” rating and a $58.00 target price for the company. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the stock. Intel currently has an average rating of “Buy” and a consensus price target of $49.58.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.22. Intel had a return on equity of 24.33% and a net margin of 15.30%. The company had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $16.34 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. analysts expect that Intel Co. will post 3.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.20 annualized dividend and a dividend yield of 2.44%. This is an increase from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio is currently 60.61%.
In other Intel news, VP Kevin Thomas Mcbride sold 686 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $46.56, for a total transaction of $31,940.16. Following the completion of the sale, the vice president now owns 6,472 shares of the company’s stock, valued at approximately $301,336.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 5,873 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $45.58, for a total transaction of $267,691.34. Following the sale, the chief executive officer now directly owns 259,082 shares of the company’s stock, valued at approximately $11,808,957.56. The disclosure for this sale can be found here. Insiders sold 930,369 shares of company stock valued at $41,275,001 in the last ninety days. 0.08% of the stock is currently owned by insiders.
Intel Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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