Intact Investment Management Inc. Has $9.08 Million Holdings in Intel Co. (NASDAQ:INTC)
Intact Investment Management Inc. boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 151,800 shares of the chip maker’s stock after acquiring an additional 300 shares during the quarter. Intact Investment Management Inc.’s holdings in Intel were worth $9,079,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TL Private Wealth boosted its stake in shares of Intel by 1.3% in the first quarter. TL Private Wealth now owns 13,178 shares of the chip maker’s stock valued at $774,000 after buying an additional 170 shares during the period. Bay Harbor Wealth Management LLC boosted its stake in shares of Intel by 17.3% in the first quarter. Bay Harbor Wealth Management LLC now owns 1,218 shares of the chip maker’s stock valued at $66,000 after buying an additional 180 shares during the period. Bridgeworth LLC boosted its stake in shares of Intel by 3.1% in the first quarter. Bridgeworth LLC now owns 6,283 shares of the chip maker’s stock valued at $340,000 after buying an additional 189 shares during the period. Financial Insights Inc. boosted its stake in shares of Intel by 5.5% in the first quarter. Financial Insights Inc. now owns 3,730 shares of the chip maker’s stock valued at $202,000 after buying an additional 195 shares during the period. Finally, Pure Financial Advisors Inc. boosted its stake in shares of Intel by 4.4% in the second quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock valued at $284,000 after buying an additional 199 shares during the period. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Navin Shenoy sold 7,018 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $59.83, for a total value of $419,886.94. Following the transaction, the executive vice president now owns 68,942 shares of the company’s stock, valued at approximately $4,124,799.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Holmes Swan purchased 8,021 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the transaction, the chief executive officer now owns 293,594 shares in the company, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The business had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $18.54 billion. During the same quarter last year, the firm earned $1.06 EPS. On average, analysts anticipate that Intel Co. will post 4.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.33 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.32 annualized dividend and a yield of 2.77%. Intel’s payout ratio is 27.10%.
Several equities research analysts have weighed in on the company. Goldman Sachs Group restated a “sell” rating and set a $46.00 target price on shares of Intel in a research note on Monday, July 27th. Wedbush cut their target price on Intel from $52.50 to $51.00 and set an “underperform” rating for the company in a research note on Friday, April 24th. Zacks Investment Research downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Monday, July 27th. KeyCorp upgraded shares of Intel from a “sector weight” rating to an “overweight” rating and set a $82.00 price target for the company in a report on Monday, June 15th. Finally, Royal Bank of Canada lowered their price target on shares of Intel from $52.00 to $48.00 and set an “underperform” rating for the company in a report on Friday, July 24th. Twelve research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Intel currently has an average rating of “Hold” and a consensus target price of $61.67.
Intel Company Profile
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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