Intel Co. (INTC) Stake Lifted by Edgestream Partners L.P.
Edgestream Partners L.P. raised its position in Intel Co. (NASDAQ:INTC) by 146.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,718 shares of the chip maker’s stock after purchasing an additional 8,736 shares during the period. Edgestream Partners L.P.’s holdings in Intel were worth $696,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Intel in the 2nd quarter worth approximately $204,242,000. Cantillon Capital Management LLC acquired a new position in shares of Intel during the 2nd quarter valued at $121,797,000. Royal London Asset Management Ltd. acquired a new position in shares of Intel during the 2nd quarter valued at $97,339,000. American Century Companies Inc. lifted its position in shares of Intel by 23.1% during the 3rd quarter. American Century Companies Inc. now owns 9,788,445 shares of the chip maker’s stock valued at $462,896,000 after acquiring an additional 1,836,266 shares during the period. Finally, Levin Capital Strategies L.P. lifted its position in shares of Intel by 36.4% during the 3rd quarter. Levin Capital Strategies L.P. now owns 5,722,044 shares of the chip maker’s stock valued at $270,595,000 after acquiring an additional 1,527,240 shares during the period. Hedge funds and other institutional investors own 66.38% of the company’s stock.
In other news, EVP Navin Shenoy sold 1,626 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $48.62, for a total value of $79,056.12. Following the completion of the sale, the executive vice president now owns 51,913 shares in the company, valued at approximately $2,524,010.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Holmes Swan bought 5,263 shares of Intel stock in a transaction dated Thursday, December 6th. The stock was purchased at an average price of $46.74 per share, with a total value of $245,992.62. Following the purchase, the chief executive officer now owns 137,102 shares in the company, valued at $6,408,147.48. The disclosure for this purchase can be found here. In the last quarter, insiders sold 18,039 shares of company stock valued at $870,162. Company insiders own 0.03% of the company’s stock.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Intel had a net margin of 29.72% and a return on equity of 30.08%. The firm had revenue of $18.66 billion for the quarter, compared to the consensus estimate of $19.02 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Intel Co. will post 4.5 earnings per share for the current year.
Intel announced that its board has initiated a stock buyback program on Thursday, November 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be paid a $0.315 dividend. This is a positive change from Intel’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.50%. Intel’s dividend payout ratio is presently 27.51%.
A number of research analysts recently issued reports on the stock. Northland Securities downgraded shares of Intel from a “market perform” rating to an “under perform” rating in a research report on Tuesday, December 4th. Needham & Company LLC downgraded shares of Intel from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $50.00 in a research report on Friday, January 25th. Charter Equity reiterated a “mkt perform” rating on shares of Intel in a research report on Friday, January 25th. Susquehanna Bancshares reiterated a “neutral” rating on shares of Intel in a research report on Friday, January 25th. Finally, Royal Bank of Canada dropped their target price on shares of Intel to $50.00 and set a “sector perform” rating on the stock in a research report on Friday, January 25th. Six investment 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.76.
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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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