Arrow Financial Corp trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,227 shares of the chip maker’s stock after selling 795 shares during the quarter. Arrow Financial Corp’s holdings in Intel were worth $2,846,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Ogorek Anthony Joseph NY ADV increased its position in Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after buying an additional 500 shares during the last quarter. Global Trust Asset Management LLC increased its position in Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after buying an additional 2,442 shares during the last quarter. Next Capital Management LLC acquired a new position in Intel during the second quarter worth $48,000. Intercontinental Wealth Advisors LLC increased its position in Intel by 83.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after buying an additional 450 shares during the last quarter. Finally, Lenox Wealth Advisors LLC increased its position in Intel by 117.4% during the third quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after buying an additional 540 shares during the last quarter. 65.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Andy D. Bryant sold 13,609 shares of Intel stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total value of $699,094.33. Following the completion of the transaction, the chairman now owns 450,591 shares in the company, valued at $23,146,859.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navin Shenoy sold 8,551 shares of Intel stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.06, for a total transaction of $445,165.06. Following the completion of the transaction, the executive vice president now owns 70,276 shares of the company’s stock, valued at approximately $3,658,568.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,940 shares of company stock valued at $1,579,698. Corporate insiders own 0.02% of the company’s stock.
Shares of INTC opened at $56.76 on Tuesday. The stock has a market cap of $231.38 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.59 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. Intel Co. has a 12 month low of $42.86 and a 12 month high of $59.59. The company has a 50-day moving average price of $51.77 and a two-hundred day moving average price of $49.43.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. The firm had revenue of $19.19 billion during the quarter, compared to analysts’ expectations of $18.07 billion. Intel had a net margin of 27.46% and a return on equity of 28.26%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Equities research analysts expect that Intel Co. will post 4.58 EPS for the current fiscal year.
Intel declared that its board has initiated a share repurchase plan on Thursday, October 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This represents a yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s dividend payout ratio is 27.51%.
INTC has been the topic of several research analyst reports. BidaskClub raised Intel from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Cascend Securities reaffirmed a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Intel in a research report on Friday, July 26th. Morgan Stanley raised their price target on Intel from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday. Wedbush raised their price target on Intel from $42.90 to $46.00 and gave the company an “underperform” rating in a research report on Friday. Finally, Northland Securities raised Intel from a “market perform” rating to an “outperform” rating and set a $69.00 price target on the stock in a research report on Friday. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Intel presently has an average rating of “Hold” and a consensus target price of $55.76.
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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