DNB Asset Management AS Boosts Holdings in Intel Co. (NASDAQ:INTC)
DNB Asset Management AS grew its position in Intel Co. (NASDAQ:INTC) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,339,726 shares of the chip maker’s stock after purchasing an additional 304,241 shares during the quarter. Intel comprises approximately 1.3% of DNB Asset Management AS’s investment portfolio, making the stock its 15th biggest holding. DNB Asset Management AS owned about 0.06% of Intel worth $121,151,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of INTC. Modus Advisors LLC purchased a new stake in shares of Intel during the second quarter worth about $25,000. Price Wealth LLC boosted its stake in Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock worth $28,000 after purchasing an additional 251 shares in the last quarter. FAI Wealth Management grew its position in Intel by 390.4% during the 2nd quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock worth $30,000 after purchasing an additional 406 shares during the last quarter. Okabena Investment Services Inc. purchased a new stake in Intel during the 2nd quarter worth approximately $42,000. Finally, Demars Financial Group LLC acquired a new position in Intel during the 2nd quarter valued at approximately $43,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.
INTC stock opened at $54.16 on Friday. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $50.81 and a 200-day simple moving average of $55.53. The stock has a market capitalization of $230.34 billion, a P/E ratio of 9.97, a P/E/G ratio of 1.48 and a beta of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s payout ratio is 27.10%.
A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Tuesday, July 7th. BofA Securities lowered Intel from a “buy” rating to a “neutral” rating in a report on Friday, July 24th. Wells Fargo & Company decreased their target price on Intel from $60.00 to $55.00 in a report on Friday, July 24th. BMO Capital Markets dropped their target price on Intel from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th. Finally, Loop Capital reduced their price target on shares of Intel from $59.00 to $50.00 and set a “sell” rating for the company in a research report on Friday, July 24th. Twelve equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have issued a buy rating to the stock. Intel presently has an average rating of “Hold” and a consensus price target of $61.24.
In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $49.28, for a total value of $216,832.00. Following the transaction, the vice president now directly owns 14,214 shares of the company’s stock, valued at $700,465.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Holmes Swan purchased 8,021 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the transaction, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. Insiders have sold 7,491 shares of company stock valued at $365,878 over the last quarter. 0.04% of the stock is owned by company insiders.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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