Cannell Peter B & Co. Inc. Sells 243,050 Shares of Intel Co. (INTC)
Cannell Peter B & Co. Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 36.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 422,555 shares of the chip maker’s stock after selling 243,050 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Intel were worth $16,091,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. bought a new stake in shares of Intel during the third quarter valued at approximately $119,000. Acrospire Investment Management LLC increased its position in shares of Intel by 111.8% during the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Intel by 47.1% during the third quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock valued at $147,000 after acquiring an additional 1,233 shares in the last quarter. Family Capital Trust Co increased its position in shares of Intel by 350.0% during the third quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock valued at $171,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Winfield Associates Inc. increased its position in shares of Intel by 6.0% during the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 67.43% of the company’s stock.
Intel Co. (INTC) opened at $45.20 on Thursday. The firm has a market cap of $211,540.00, a price-to-earnings ratio of 22.83, a PEG ratio of 1.51 and a beta of 1.07. Intel Co. has a one year low of $33.23 and a one year high of $50.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.69.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio (DPR) is currently 60.61%.
In related news, CEO Brian M. Krzanich sold 889,878 shares of Intel stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $44.19, for a total transaction of $39,323,708.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 716 shares of Intel stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $49.25, for a total transaction of $35,263.00. Following the transaction, the executive vice president now owns 21,135 shares in the company, valued at approximately $1,040,898.75. The disclosure for this sale can be found here. Insiders have sold a total of 931,253 shares of company stock worth $41,320,793 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
Several equities research analysts recently weighed in on the stock. UBS Group set a $51.00 price target on shares of Intel and gave the company a “buy” rating in a research report on Monday, January 29th. MKM Partners raised their price target on shares of Intel to $55.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Vetr downgraded shares of Intel from a “buy” rating to a “sell” rating and set a $47.74 price target for the company. in a research report on Monday, January 29th. Citigroup assumed coverage on shares of Intel in a research report on Tuesday, January 30th. They set a “buy” rating and a $58.00 price target for the company. Finally, Nomura reissued a “buy” rating and set a $50.00 price target on shares of Intel in a research report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-one have issued a buy rating to the company. Intel has a consensus rating of “Buy” and a consensus target price of $49.10.
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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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