American Investment Services Inc. Trims Holdings in Intel Co. (INTC)
American Investment Services Inc. decreased its position in Intel Co. (NASDAQ:INTC) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,995 shares of the chip maker’s stock after selling 1,969 shares during the quarter. American Investment Services Inc.’s holdings in Intel were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Whale Rock Capital Management LLC purchased a new position in shares of Intel in the 2nd quarter worth approximately $53,044,000. Paloma Partners Management Co lifted its position in Intel by 3,118.4% in the second quarter. Paloma Partners Management Co now owns 319,744 shares of the chip maker’s stock worth $15,895,000 after buying an additional 309,809 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Intel by 41.3% in the second quarter. Hilltop Holdings Inc. now owns 27,111 shares of the chip maker’s stock worth $1,348,000 after buying an additional 7,924 shares during the last quarter. SevenBridge Financial Group LLC boosted its stake in Intel by 2.0% during the second quarter. SevenBridge Financial Group LLC now owns 56,701 shares of the chip maker’s stock worth $2,819,000 after buying an additional 1,120 shares during the period. Finally, Vident Investment Advisory LLC boosted its stake in Intel by 2.8% during the second quarter. Vident Investment Advisory LLC now owns 78,297 shares of the chip maker’s stock worth $3,892,000 after buying an additional 2,139 shares during the period. 64.69% of the stock is currently owned by institutional investors and hedge funds.
INTC opened at $55.32 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $260.11 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.47 and a beta of 0.79. Intel Co. has a 52 week low of $42.36 and a 52 week high of $57.60.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.315 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.28%. Intel’s payout ratio is currently 27.51%.
A number of research firms have weighed in on INTC. BidaskClub cut shares of Intel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 30th. Sanford C. Bernstein restated a “sell” rating and issued a $42.00 target price on shares of Intel in a report on Wednesday, April 3rd. Goldman Sachs Group reaffirmed a “sell” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Zacks Investment Research upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, March 27th. Finally, Wells Fargo & Co lowered shares of Intel from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Friday, April 5th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Intel presently has an average rating of “Hold” and an average target price of $55.10.
In related news, VP Kevin Thomas Mcbride sold 518 shares of Intel stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.33, for a total transaction of $26,588.94. Following the transaction, the vice president now directly owns 8,274 shares of the company’s stock, valued at $424,704.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven Ralph Rodgers sold 25,170 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $55.00, for a total transaction of $1,384,350.00. Following the completion of the transaction, the executive vice president now directly owns 48,140 shares of the company’s stock, valued at approximately $2,647,700. The disclosure for this sale can be found here. Insiders sold 65,431 shares of company stock valued at $3,500,497 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.
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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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