AMG National Trust Bank Boosts Position in Intel (INTC)
AMG National Trust Bank lifted its position in shares of Intel (NASDAQ:INTC) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 135,915 shares of the chip maker’s stock after acquiring an additional 7,066 shares during the quarter. AMG National Trust Bank’s holdings in Intel were worth $6,274,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of INTC. Epstein & White Financial LLC acquired a new stake in Intel in the fourth quarter worth $262,000. Whalerock Point Partners LLC increased its position in Intel by 32.8% in the fourth quarter. Whalerock Point Partners LLC now owns 37,490 shares of the chip maker’s stock worth $1,730,000 after buying an additional 9,250 shares during the period. Berkshire Asset Management LLC PA increased its position in Intel by 9.0% in the fourth quarter. Berkshire Asset Management LLC PA now owns 443,604 shares of the chip maker’s stock worth $20,477,000 after buying an additional 36,802 shares during the period. Marathon Asset Management LLP increased its position in Intel by 7.8% in the fourth quarter. Marathon Asset Management LLP now owns 2,746,300 shares of the chip maker’s stock worth $126,776,000 after buying an additional 199,461 shares during the period. Finally, Walter & Keenan Financial Consulting Co. MI ADV increased its position in Intel by 9.4% in the fourth quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 136,437 shares of the chip maker’s stock worth $6,298,000 after buying an additional 11,764 shares during the period. 68.23% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. B. Riley increased their target price on Intel from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. Stifel Nicolaus increased their target price on Intel from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, April 27th. Bank of America reaffirmed a “buy” rating and issued a $65.00 target price on shares of Intel in a research report on Wednesday, April 18th. Tigress Financial raised Intel from a “neutral” rating to a “buy” rating and set a $50.34 target price on the stock in a research report on Thursday, April 5th. Finally, BNP Paribas reissued a “neutral” rating and issued a $54.00 price target on shares of Intel in a research note on Monday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.28.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 26th. The chip maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.72 by $0.15. Intel had a return on equity of 25.41% and a net margin of 17.32%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Intel’s revenue was up 8.8% compared to the same quarter last year. research analysts anticipate that Intel will post 3.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, May 4th. Intel’s dividend payout ratio is currently 34.68%.
In related news, EVP Navin Shenoy sold 498 shares of the stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $52.31, for a total value of $26,050.38. Following the completion of the sale, the executive vice president now directly owns 30,502 shares of the company’s stock, valued at approximately $1,595,559.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kevin Thomas Mcbride sold 686 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.56, for a total value of $31,940.16. Following the completion of the sale, the vice president now directly owns 6,472 shares of the company’s stock, valued at $301,336.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,301 shares of company stock valued at $4,785,697. Company insiders own 0.03% of the company’s stock.
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.
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel (NASDAQ:INTC).
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.