Lcnb Corp Increases Holdings in Intel Co. (INTC)
Lcnb Corp raised its position in shares of Intel Co. (NASDAQ:INTC) by 7.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,369 shares of the chip maker’s stock after purchasing an additional 3,227 shares during the quarter. Intel comprises about 2.0% of Lcnb Corp’s investment portfolio, making the stock its 12th largest position. Lcnb Corp’s holdings in Intel were worth $2,206,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Cullen Frost Bankers Inc. raised its holdings in Intel by 5.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 233,077 shares of the chip maker’s stock valued at $12,138,000 after buying an additional 11,205 shares during the last quarter. AO Asset Management LP bought a new stake in Intel during the 1st quarter valued at $19,009,000. Well Done LLC bought a new stake in Intel during the 1st quarter valued at $156,000. Ironvine Capital Partners LLC raised its holdings in Intel by 37.2% during the 1st quarter. Ironvine Capital Partners LLC now owns 250,616 shares of the chip maker’s stock valued at $13,052,000 after buying an additional 67,888 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Intel by 1.2% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 175,104 shares of the chip maker’s stock valued at $9,119,000 after buying an additional 2,157 shares during the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the sale, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Navin Shenoy sold 4,522 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $50.00, for a total transaction of $226,100.00. The disclosure for this sale can be found here. Insiders sold a total of 13,257 shares of company stock worth $624,095 over the last ninety days. Insiders own 0.03% of the company’s stock.
NASDAQ:INTC opened at $48.37 on Friday. The stock has a market capitalization of $223.39 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. Intel Co. has a 1-year low of $42.04 and a 1-year high of $57.60.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.25. The firm had revenue of $19.16 billion for the quarter, compared to the consensus estimate of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. On average, analysts forecast that Intel Co. will post 4.53 EPS for the current fiscal year.
Intel announced that its Board of Directors has approved a stock buyback plan on Thursday, November 15th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the chip maker to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, November 6th. Intel’s dividend payout ratio is presently 34.68%.
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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