Kiwi Wealth Investments Limited Partnership Takes Position in Intel Co. (INTC)
Kiwi Wealth Investments Limited Partnership bought a new stake in Intel Co. (NASDAQ:INTC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 27,196 shares of the chip maker’s stock, valued at approximately $1,352,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quad Cities Investment Group LLC acquired a new position in Intel during the 2nd quarter valued at about $107,000. WP Advisors LLC acquired a new position in Intel during the 2nd quarter valued at about $137,000. Kohmann Bosshard Financial Services LLC acquired a new position in Intel during the 1st quarter valued at about $191,000. R.M.SINCERBEAUX Capital Management LLC acquired a new position in Intel during the 1st quarter valued at about $208,000. Finally, Carlson Capital Management acquired a new position in Intel during the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 64.42% of the company’s stock.
In related news, EVP Navin Shenoy sold 4,522 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $50.00, for a total transaction of $226,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Holmes Swan bought 5,117 shares of the stock in a transaction that occurred on Thursday, November 29th. The shares were acquired at an average cost of $48.30 per share, with a total value of $247,151.10. Following the completion of the purchase, the chief executive officer now owns 131,839 shares in the company, valued at approximately $6,367,823.70. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 13,257 shares of company stock valued at $624,095. 0.03% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The business had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. As a group, sell-side analysts expect that Intel Co. will post 4.53 earnings per share for the current year.
Intel announced that its board has initiated a share repurchase program on Thursday, November 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the chip maker to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. Intel’s payout ratio is 34.68%.
A number of research analysts have issued reports on INTC shares. Wells Fargo & Co set a $58.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Monday, August 20th. Macquarie set a $60.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Thursday, August 16th. MKM Partners cut their target price on shares of Intel to $58.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. Morningstar set a $65.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Wednesday, September 26th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have assigned a buy rating to the stock. Intel currently has an average rating of “Hold” and an average target price of $55.60.
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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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