First Fiduciary Investment Counsel Inc. boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 369,559 shares of the chip maker’s stock after acquiring an additional 5,070 shares during the quarter. Intel makes up approximately 3.5% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 12th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Intel were worth $17,343,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Advanced Asset Management Advisors Inc lifted its position in Intel by 9.8% during the 4th quarter. Advanced Asset Management Advisors Inc now owns 70,579 shares of the chip maker’s stock valued at $3,312,000 after purchasing an additional 6,279 shares during the period. Country Trust Bank lifted its position in Intel by 42.2% during the 4th quarter. Country Trust Bank now owns 1,783 shares of the chip maker’s stock valued at $84,000 after purchasing an additional 529 shares during the period. Martin Investment Management LLC acquired a new position in Intel during the 4th quarter valued at about $278,000. Alerus Financial NA lifted its position in Intel by 5.1% during the 4th quarter. Alerus Financial NA now owns 50,467 shares of the chip maker’s stock valued at $2,368,000 after purchasing an additional 2,459 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Intel by 15.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,595 shares of the chip maker’s stock valued at $450,000 after purchasing an additional 1,268 shares during the period. 63.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Navin Shenoy sold 1,254 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $50.80, for a total transaction of $63,703.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 37,989 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $52.19, for a total value of $1,982,645.91. Following the sale, the insider now directly owns 76,855 shares of the company’s stock, valued at $4,011,062.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,802 shares of company stock valued at $5,317,254. 0.02% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. The business had revenue of $16.10 million for the quarter, compared to the consensus estimate of $16.03 billion. Intel had a net margin of 29.04% and a return on equity of 29.54%. Intel’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. On average, analysts forecast that Intel Co. will post 4.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.315 per share. The ex-dividend date is Monday, May 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.83%. Intel’s payout ratio is 27.51%.
A number of research analysts have issued reports on the stock. New Street Research set a $65.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Tuesday, April 16th. Mizuho restated a “buy” rating on shares of Intel in a research report on Friday, April 26th. JPMorgan Chase & Co. restated a “buy” rating and set a $64.00 target price on shares of Intel in a research report on Friday, April 26th. SunTrust Banks upped their target price on shares of Intel to $56.00 and gave the company a “buy” rating in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, Wells Fargo & Co downgraded shares of Intel from an “outperform” rating to a “market perform” rating and upped their target price for the company from $55.00 to $60.00 in a research report on Friday, April 5th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the stock. Intel currently has an average rating of “Hold” and an average price target of $54.23.
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Intel Company Profile
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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