Intel Co. (NASDAQ:INTC) Shares Purchased by Baystate Wealth Management LLC
Baystate Wealth Management LLC raised its position in Intel Co. (NASDAQ:INTC) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,060 shares of the chip maker’s stock after purchasing an additional 492 shares during the quarter. Baystate Wealth Management LLC’s holdings in Intel were worth $314,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Intel by 39.2% in the second quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock valued at $1,740,598,000 after buying an additional 8,197,324 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Intel during the 1st quarter worth about $73,141,000. Nordea Investment Management AB boosted its holdings in Intel by 116.0% during the 2nd quarter. Nordea Investment Management AB now owns 14,478,112 shares of the chip maker’s stock valued at $863,186,000 after acquiring an additional 7,774,135 shares during the period. Bank of New York Mellon Corp grew its position in Intel by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,643,371 shares of the chip maker’s stock valued at $2,611,183,000 after acquiring an additional 2,854,921 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Intel by 213.3% during the second quarter. Assenagon Asset Management S.A. now owns 2,776,281 shares of the chip maker’s stock worth $166,105,000 after purchasing an additional 1,890,088 shares during the period. Institutional investors own 64.41% of the company’s stock.
INTC has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective 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. BMO Capital Markets dropped their price target on shares of Intel from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, July 24th. Citigroup reiterated a “hold” rating and issued a $58.00 price objective on shares of Intel in a research note on Tuesday, June 23rd. Goldman Sachs Group reissued a “sell” rating and set a $46.00 target price on shares of Intel in a research note on Monday, July 27th. Finally, Northland Securities started coverage on Intel in a report on Friday, September 11th. They set a “sell” rating and a $48.00 price target on the stock. Twelve equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.24.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $18.54 billion. During the same period in the previous year, the business posted $1.06 earnings per share. Research analysts predict that Intel Co. will post 4.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, November 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.44%. Intel’s dividend payout ratio is currently 27.10%.
In related news, VP Kevin Thomas Mcbride sold 4,400 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $49.28, for a total transaction of $216,832.00. Following the sale, the vice president now owns 14,214 shares in the company, valued at $700,465.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 2,847 shares of Intel stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the sale, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The disclosure for this sale can be found here. Insiders sold 7,491 shares of company stock worth $365,878 over the last 90 days. Company insiders own 0.04% of the company’s stock.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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