British Airways Pensions Investment Management Ltd lessened its holdings in Intel Co. (NASDAQ:INTC) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 251,196 shares of the chip maker’s stock after selling 46,955 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Intel were worth $12,944,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC raised its stake in Intel by 1.4% during the third quarter. Lindbrook Capital LLC now owns 14,246 shares of the chip maker’s stock worth $734,000 after purchasing an additional 193 shares during the period. Empirical Finance LLC raised its stake in Intel by 1.8% during the third quarter. Empirical Finance LLC now owns 11,109 shares of the chip maker’s stock worth $572,000 after purchasing an additional 195 shares during the period. Grove Bank & Trust raised its stake in Intel by 1.3% during the third quarter. Grove Bank & Trust now owns 15,025 shares of the chip maker’s stock worth $774,000 after purchasing an additional 199 shares during the period. Delta Asset Management LLC TN raised its stake in Intel by 0.9% during the second quarter. Delta Asset Management LLC TN now owns 23,170 shares of the chip maker’s stock worth $1,109,000 after purchasing an additional 200 shares during the period. Finally, Mount Vernon Associates Inc. MD raised its stake in Intel by 0.4% during the second quarter. Mount Vernon Associates Inc. MD now owns 46,004 shares of the chip maker’s stock worth $2,202,000 after purchasing an additional 200 shares during the period. 67.21% of the stock is currently owned by institutional investors.
INTC has been the topic of a number of recent analyst reports. Goldman Sachs Group reaffirmed a “sell” rating and set a $48.00 price target on shares of Intel in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Susquehanna Bancshares increased their price target on shares of Intel from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho increased their price objective on shares of Intel from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein reissued a “sell” rating and issued a $42.00 price objective on shares of Intel in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $55.81.
INTC opened at $57.60 on Thursday. The company has a fifty day simple moving average of $52.63 and a 200 day simple moving average of $49.44. The firm has a market cap of $245.82 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.63 and a beta of 0.93. Intel Co. has a twelve month low of $42.86 and a twelve month high of $59.59. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.18. The business had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.07 billion. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. On average, analysts forecast that Intel Co. will post 4.61 earnings per share for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a dividend of $0.315 per share. This represents a yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s payout ratio is 27.51%.
Intel declared that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the chip maker to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Intel news, EVP Navin Shenoy sold 8,551 shares of the firm’s stock in a transaction 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 directly owns 70,276 shares of the company’s stock, valued at approximately $3,658,568.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Holmes Swan acquired 10,918 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $45.70 per share, with a total value of $498,952.60. Following the completion of the acquisition, the chief executive officer now owns 168,955 shares in the company, valued at $7,721,243.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 17,482 shares of company stock valued at $911,044. Company insiders own 0.02% of the company’s stock.
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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