Wealthsource Partners LLC increased its position in Intel Co. (NASDAQ:INTC) by 20.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,601 shares of the chip maker’s stock after purchasing an additional 1,813 shares during the quarter. Wealthsource Partners LLC’s holdings in Intel were worth $527,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Lcnb Corp boosted its position in Intel by 7.8% during the 2nd quarter. Lcnb Corp now owns 44,369 shares of the chip maker’s stock valued at $2,206,000 after acquiring an additional 3,227 shares in the last quarter. Lansdowne Partners UK LLP bought a new stake in Intel during the 2nd quarter valued at $2,440,000. AMP Capital Investors Ltd boosted its position in Intel by 3.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 2,257,447 shares of the chip maker’s stock valued at $112,218,000 after acquiring an additional 77,005 shares in the last quarter. Twin Capital Management Inc. boosted its position in Intel by 0.4% during the 2nd quarter. Twin Capital Management Inc. now owns 399,430 shares of the chip maker’s stock valued at $19,856,000 after acquiring an additional 1,700 shares in the last quarter. Finally, ProVise Management Group LLC boosted its position in Intel by 129.0% during the 2nd quarter. ProVise Management Group LLC now owns 16,422 shares of the chip maker’s stock valued at $816,000 after acquiring an additional 9,251 shares in the last quarter. 64.42% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the company. BNP Paribas set a $53.00 target price on Intel and gave the company a “neutral” rating in a research report on Tuesday. Northland Securities cut Intel from a “market perform” rating to an “under perform” rating in a research report on Tuesday. ValuEngine raised Intel from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. DZ Bank cut Intel from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, November 29th. Finally, UBS Group cut Intel from a “buy” rating to a “hold” rating in a research report on Thursday, November 29th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have assigned a buy rating to the stock. Intel has an average rating of “Hold” and a consensus price target of $55.60.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. Analysts forecast that Intel Co. will post 4.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were paid a $0.30 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. Intel’s dividend payout ratio (DPR) is 34.68%.
Intel declared that its Board of Directors has initiated a share buyback program on Thursday, November 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the chip maker to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares in the company, valued at approximately $649,758.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navin Shenoy sold 4,522 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $50.00, for a total value of $226,100.00. The disclosure for this sale can be found here. Insiders sold a total of 13,257 shares of company stock valued at $624,095 in the last 90 days. 0.03% of the stock is currently owned by company insiders.
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Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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