Pillar Pacific Capital Management LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,946 shares of the chip maker’s stock after selling 18,741 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Intel were worth $10,908,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. DB Wealth Management Group LLC bought a new stake in shares of Intel in the 4th quarter worth about $29,000. Baron Financial Group LLC bought a new position in Intel during the 3rd quarter valued at about $34,000. Ogorek Anthony Joseph NY ADV bought a new position in Intel during the 4th quarter valued at about $31,000. Holloway Wealth Management LLC bought a new position in Intel during the 3rd quarter valued at about $41,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intel in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 63.25% of the company’s stock.
Shares of Intel stock traded down $0.25 during mid-day trading on Tuesday, reaching $60.46. 1,357,697 shares of the stock traded hands, compared to its average volume of 39,641,777. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $57.25 and a 200 day moving average of $51.11. The stock has a market capitalization of $245.65 billion, a PE ratio of 11.65, a PEG ratio of 1.63 and a beta of 0.74. Intel Co. has a fifty-two week low of $43.61 and a fifty-two week high of $65.11.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 5th will be given a $0.3475 dividend. The ex-dividend date is Thursday, February 4th. This is a positive change from Intel’s previous quarterly dividend of $0.33. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.30%. Intel’s dividend payout ratio is 28.54%.
In other Intel news, CFO George S. Davis acquired 9,095 shares of the stock in a transaction that occurred on Tuesday, January 26th. The stock was bought at an average cost of $55.34 per share, for a total transaction of $503,317.30. Following the completion of the transaction, the chief financial officer now owns 71,223 shares of the company’s stock, valued at approximately $3,941,480.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Holmes Swan acquired 27,244 shares of the stock in a transaction that occurred on Monday, January 25th. The stock was acquired at an average price of $55.57 per share, with a total value of $1,513,949.08. Following the completion of the transaction, the chief executive officer now directly owns 330,774 shares of the company’s stock, valued at approximately $18,381,111.18. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on INTC shares. Roth Capital boosted their price objective on shares of Intel from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, January 22nd. Sanford C. Bernstein reaffirmed a “sell” rating and issued a $43.00 price target on shares of Intel in a research report on Friday, January 22nd. Cowen upped their price target on shares of Intel from $75.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, February 5th. Finally, KeyCorp upped their price target on shares of Intel from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 22nd. Eleven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. Intel presently has an average rating of “Hold” and a consensus price target of $61.64.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses 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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