Foundation Resource Management Inc. cut its position in Intel Co. (NASDAQ:INTC) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,128 shares of the chip maker’s stock after selling 3,910 shares during the quarter. Intel makes up 2.6% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Foundation Resource Management Inc.’s holdings in Intel were worth $14,223,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Beach Investment Management LLC. acquired a new stake in Intel during the 2nd quarter worth approximately $371,000. LLBH Private Wealth Management LLC lifted its position in Intel by 0.8% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 30,378 shares of the chip maker’s stock worth $1,025,000 after acquiring an additional 256 shares during the period. Alps Advisors Inc. lifted its position in Intel by 17.6% during the 2nd quarter. Alps Advisors Inc. now owns 30,913 shares of the chip maker’s stock worth $1,043,000 after acquiring an additional 4,621 shares during the period. Bristol Advisors LLC acquired a new stake in Intel during the 2nd quarter worth approximately $1,167,000. Finally, Legal & General Group Plc lifted its position in Intel by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock worth $860,658,000 after acquiring an additional 412,747 shares during the period. 69.22% of the stock is owned by hedge funds and other institutional investors.
In other Intel news, CEO Brian M. Krzanich sold 5,873 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $45.58, for a total transaction of $267,691.34. Following the sale, the chief executive officer now owns 259,082 shares in the company, valued at approximately $11,808,957.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian M. Krzanich sold 8,659 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $49.40, for a total value of $427,754.60. Following the sale, the chief executive officer now owns 263,382 shares in the company, valued at approximately $13,011,070.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,914 shares of company stock worth $6,011,490. 0.08% of the stock is owned by insiders.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. The firm had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.34 billion. Intel had a return on equity of 24.33% and a net margin of 15.30%. Intel’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. equities research analysts forecast that Intel Co. will post 3.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio is 60.61%.
INTC has been the subject of a number of recent research reports. Instinet increased their price objective on Intel to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Vetr cut Intel from a “strong-buy” rating to a “buy” rating and set a $48.80 price objective for the company. in a research report on Tuesday, January 2nd. BidaskClub cut Intel from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 27th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $48.00 price objective on shares of Intel in a research report on Friday, January 26th. Finally, Barclays reaffirmed a “buy” rating and set a $55.00 price objective on shares of Intel in a research report on Monday, November 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Intel presently has an average rating of “Buy” and an average target price of $49.96.
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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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