Intel Co. (INTC) Shares Sold by Commonwealth Equity Services LLC
Commonwealth Equity Services LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,761,607 shares of the chip maker’s stock after selling 28,653 shares during the period. Commonwealth Equity Services LLC’s holdings in Intel were worth $83,306,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Merriman Wealth Management LLC lifted its stake in Intel by 67.4% in the third quarter. Merriman Wealth Management LLC now owns 16,030 shares of the chip maker’s stock valued at $758,000 after acquiring an additional 6,453 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in Intel in the third quarter valued at approximately $1,493,000. Cadence Bank NA lifted its stake in Intel by 6.1% in the third quarter. Cadence Bank NA now owns 82,823 shares of the chip maker’s stock valued at $3,917,000 after acquiring an additional 4,772 shares during the last quarter. Heritage Investors Management Corp lifted its stake in Intel by 1.0% in the third quarter. Heritage Investors Management Corp now owns 641,111 shares of the chip maker’s stock valued at $30,318,000 after acquiring an additional 6,349 shares during the last quarter. Finally, Fort Pitt Capital Group LLC lifted its stake in Intel by 4.9% in the third quarter. Fort Pitt Capital Group LLC now owns 775,769 shares of the chip maker’s stock valued at $36,686,000 after acquiring an additional 36,125 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Intel from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein set a $42.00 price objective on shares of Intel and gave the stock a “sell” rating in a research note on Thursday, January 31st. Tigress Financial restated a “buy” rating on shares of Intel in a research note on Monday, January 28th. Credit Suisse Group restated a “buy” rating and issued a $58.00 price objective on shares of Intel in a research note on Monday, January 28th. Finally, UBS Group restated a “buy” rating and issued a $58.00 price objective on shares of Intel in a research note on Friday, January 25th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and eighteen have given a buy rating to the company. Intel has a consensus rating of “Hold” and a consensus target price of $53.76.
Intel (NASDAQ:INTC) last released its 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 firm had revenue of $18.66 billion during the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a net margin of 29.72% and a return on equity of 30.08%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. As a group, analysts forecast that Intel Co. will post 4.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be paid a dividend of $0.315 per share. This is a boost from Intel’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, February 6th. Intel’s dividend payout ratio is presently 27.51%.
Intel announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 15th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Intel news, EVP Navin Shenoy sold 4,522 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $50.00, for a total value of $226,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Holmes Swan purchased 5,117 shares of the stock in a transaction on Thursday, November 29th. The stock was acquired at an average cost of $48.30 per share, for a total transaction of $247,151.10. Following the acquisition, the chief executive officer now directly owns 131,839 shares in the company, valued at $6,367,823.70. The disclosure for this purchase can be found here. Insiders sold a total of 18,039 shares of company stock worth $870,162 in the last three months. Insiders own 0.03% of the company’s stock.
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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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