Intel Co. (INTC) Holdings Cut by FCG Advisors LLC
FCG Advisors LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 32.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,979 shares of the chip maker’s stock after selling 4,249 shares during the period. FCG Advisors LLC’s holdings in Intel were worth $446,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in INTC. TIAA CREF Investment Management LLC grew its holdings in shares of Intel by 47.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock worth $1,094,509,000 after purchasing an additional 7,669,737 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Intel by 3,222.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,441,594 shares of the chip maker’s stock worth $158,864,000 after purchasing an additional 3,338,000 shares during the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of Intel by 192.0% during the first quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after purchasing an additional 3,098,600 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Intel by 14.7% during the fourth quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock worth $1,116,510,000 after purchasing an additional 3,095,697 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Intel by 232.8% during the first quarter. Millennium Management LLC now owns 1,750,545 shares of the chip maker’s stock worth $91,168,000 after purchasing an additional 3,069,040 shares during the last quarter. Institutional investors own 65.33% of the company’s stock.
Several brokerages have recently commented on INTC. Sanford C. Bernstein set a $54.00 target price on Intel and gave the stock a “neutral” rating in a report on Wednesday, June 6th. Northland Securities cut Intel from a “market perform” rating to an “underperform” rating in a report on Monday, June 18th. BidaskClub cut Intel from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 12th. Morgan Stanley increased their target price on Intel from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, June 22nd. Finally, Nomura set a $55.00 target price on Intel and gave the stock a “neutral” rating in a report on Monday, June 25th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $55.40.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The firm had revenue of $16.96 billion for the quarter, compared to analysts’ expectations of $16.78 billion. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. equities analysts predict that Intel Co. will post 4.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is currently 34.68%.
In other Intel news, EVP Steven Ralph Rodgers sold 1,251 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $48.37, for a total transaction of $60,510.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert Holmes Swan bought 5,243 shares of Intel stock in a transaction on Monday, July 30th. The shares were bought at an average price of $47.69 per share, for a total transaction of $250,038.67. Following the acquisition, the chief executive officer now owns 71,672 shares of the company’s stock, valued at approximately $3,418,037.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 4,077 shares of company stock worth $205,757. 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.
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