Madison Investment Holdings Inc. lessened its stake in Intel Co. (NASDAQ:INTC) by 46.4% in the third quarter, Holdings Channel reports. The firm owned 115,278 shares of the chip maker’s stock after selling 99,952 shares during the period. Madison Investment Holdings Inc.’s holdings in Intel were worth $4,390,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. acquired a new position in Intel in the third quarter valued at about $119,000. Acrospire Investment Management LLC grew its stake in Intel by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares during the period. JFS Wealth Advisors LLC grew its stake in Intel by 47.1% in the third quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock valued at $147,000 after acquiring an additional 1,233 shares during the period. Burt Wealth Advisors grew its stake in Intel by 236.1% in the second quarter. Burt Wealth Advisors now owns 4,941 shares of the chip maker’s stock valued at $166,000 after acquiring an additional 3,471 shares during the period. Finally, Family Capital Trust Co grew its stake in Intel by 350.0% in the third quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock valued at $171,000 after acquiring an additional 3,500 shares during the period. Institutional investors and hedge funds own 67.74% of the company’s stock.
In other Intel news, CEO Brian M. Krzanich sold 8,659 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $49.40, for a total transaction of $427,754.60. Following the transaction, the chief executive officer now owns 263,382 shares in the company, valued at approximately $13,011,070.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kevin Thomas Mcbride sold 686 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $46.56, for a total value of $31,940.16. Following the transaction, the vice president now owns 6,472 shares in the company, valued at approximately $301,336.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,914 shares of company stock worth $6,011,490. Corporate insiders own 0.08% of the company’s stock.
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 consensus estimate of $0.86 by $0.22. The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.34 billion. Intel had a return on equity of 24.33% and a net margin of 15.30%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. equities research analysts forecast that Intel Co. will post 3.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, February 6th. This is a positive change from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio (DPR) is 60.61%.
A number of research firms have issued reports on INTC. Nomura boosted their target price on Intel from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Vetr cut Intel from a “buy” rating to a “hold” rating and set a $49.39 target price for the company. in a research note on Monday. Macquarie set a $55.00 target price on Intel and gave the company 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 company a “buy” rating in a research note on Monday, February 5th. Finally, Citigroup began coverage on Intel in a research note on Tuesday, January 30th. They issued 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 issued a hold rating and twenty-nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.58.
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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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