Intel Co. (INTC) Shares Sold by Cardinal Capital Management Inc.
Cardinal Capital Management Inc. reduced its position in Intel Co. (NASDAQ:INTC) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 410,279 shares of the chip maker’s stock after selling 19,040 shares during the quarter. Intel comprises about 1.6% of Cardinal Capital Management Inc.’s holdings, making the stock its 18th largest position. Cardinal Capital Management Inc.’s holdings in Intel were worth $18,938,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of INTC. Vanguard Group Inc. lifted its holdings in shares of Intel by 2.5% during the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after purchasing an additional 8,087,302 shares during the period. Capital World Investors lifted its holdings in shares of Intel by 5.5% during the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after purchasing an additional 10,257,260 shares during the period. Capital Research Global Investors lifted its holdings in shares of Intel by 9.1% during the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after purchasing an additional 10,744,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Intel by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 50,998,381 shares of the chip maker’s stock worth $1,941,934,000 after purchasing an additional 397,082 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Intel by 2.0% during the third quarter. Legal & General Group Plc now owns 26,011,028 shares of the chip maker’s stock worth $990,439,000 after purchasing an additional 502,225 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.
Shares of Intel stock opened at $51.56 on Thursday. The company has a market capitalization of $237,274.45, a PE ratio of 26.04, a P/E/G ratio of 1.72 and a beta of 1.01. Intel Co. has a 52-week low of $33.23 and a 52-week high of $53.78. 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 Friday, June 1st. Shareholders of record on Monday, May 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, May 4th. Intel’s payout ratio is 60.61%.
In other Intel news, EVP Navin Shenoy sold 8,967 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.67, for a total value of $436,423.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 5,873 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $45.58, for a total value of $267,691.34. Following the completion of the sale, the chief executive officer now directly owns 259,082 shares in the company, valued at $11,808,957.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,914 shares of company stock worth $6,011,490. 0.08% of the stock is owned by corporate insiders.
INTC has been the subject of several recent research reports. Nomura reaffirmed a “buy” rating and set a $50.00 price target on shares of Intel in a report on Thursday, January 4th. B. Riley reaffirmed a “buy” rating and set a $53.00 price target on shares of Intel in a report on Thursday, January 4th. JPMorgan Chase & Co. set a $53.00 price target on Intel and gave the stock a “buy” rating in a report on Thursday, January 4th. Vetr downgraded Intel from a “strong-buy” rating to a “buy” rating and set a $48.80 price target for the company. in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded Intel from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $50.04.
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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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