Cordasco Financial Network Raises Holdings in Intel Co. (INTC)
Cordasco Financial Network boosted its holdings in Intel Co. (NASDAQ:INTC) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,099 shares of the chip maker’s stock after acquiring an additional 400 shares during the quarter. Cordasco Financial Network’s holdings in Intel were worth $286,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of INTC. Keeler Thomas Management LLC raised its holdings in Intel by 130.7% during the 3rd quarter. Keeler Thomas Management LLC now owns 13,644 shares of the chip maker’s stock worth $654,000 after buying an additional 7,730 shares during the period. Belpointe Asset Management LLC raised its holdings in Intel by 27.9% during the 3rd quarter. Belpointe Asset Management LLC now owns 28,542 shares of the chip maker’s stock worth $1,350,000 after buying an additional 6,225 shares during the period. Blankinship & Foster LLC acquired a new stake in Intel during the 3rd quarter worth about $223,000. SVA Plumb Wealth Management LLC raised its holdings in Intel by 4.0% during the 3rd quarter. SVA Plumb Wealth Management LLC now owns 78,431 shares of the chip maker’s stock worth $3,709,000 after buying an additional 3,025 shares during the period. Finally, Destination Wealth Management raised its holdings in Intel by 58.0% during the 3rd quarter. Destination Wealth Management now owns 18,894 shares of the chip maker’s stock worth $894,000 after buying an additional 6,935 shares during the period. Hedge funds and other institutional investors own 64.67% of the company’s stock.
Several analysts have issued reports on INTC shares. Goldman Sachs Group restated a “sell” rating and set a $44.00 price objective on shares of Intel in a report on Tuesday, January 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $64.00 target price on shares of Intel in a research note on Friday, January 25th. ValuEngine raised Intel from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday. Finally, BidaskClub raised Intel from a “hold” rating to a “buy” rating in a research note on Tuesday, December 25th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.51.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.06. The business had revenue of $18.66 billion during the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. As a group, equities analysts forecast that Intel Co. will post 4.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.315 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.37%. Intel’s payout ratio is 27.51%.
In other Intel news, EVP Navin Shenoy sold 1,518 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $46.11, for a total transaction of $69,994.98. Following the completion of the sale, the executive vice president now owns 52,419 shares of the company’s stock, valued at $2,417,040.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andy D. Bryant sold 11,734 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.03, for a total value of $622,254.02. The disclosure for this sale can be found here. In the last three months, insiders sold 40,261 shares of company stock valued at $2,116,147. 0.03% of the stock is currently owned by company insiders.
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.
Read More: The Discount Rate – What You Need to Know
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (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.