IFM Investors Pty Ltd lifted its position in Intel Co. (NASDAQ:INTC) by 11.3% during the 3rd quarter, Holdings Channel reports. The firm owned 351,622 shares of the chip maker’s stock after acquiring an additional 35,603 shares during the period. Intel comprises about 0.8% of IFM Investors Pty Ltd’s holdings, making the stock its 23rd biggest holding. IFM Investors Pty Ltd’s holdings in Intel were worth $18,207,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of INTC. Modus Advisors LLC bought a new stake in Intel in the second quarter valued at $25,000. Price Wealth LLC boosted its holdings in Intel by 119.5% in the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 251 shares in the last quarter. FAI Wealth Management boosted its holdings in Intel by 390.4% in the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 406 shares in the last quarter. Okabena Investment Services Inc. bought a new stake in Intel in the second quarter valued at $42,000. Finally, Demars Financial Group LLC bought a new stake in Intel in the second quarter valued at $43,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.
INTC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Intel from a “buy” rating to a “hold” rating and cut their price target for the company from $70.00 to $60.00 in a report on Friday, July 24th. They noted that the move was a valuation call. BofA Securities lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Tigress Financial reissued a “buy” rating on shares of Intel in a research report on Thursday, July 30th. Exane BNP Paribas lowered Intel from an “outperform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research report on Friday, July 24th. Finally, Morgan Stanley lowered their price objective on Intel from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, July 24th. Twelve investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $61.24.
NASDAQ:INTC traded up $0.31 during mid-day trading on Friday, reaching $54.16. The company’s stock had a trading volume of 23,421,388 shares, compared to its average volume of 29,674,551. Intel Co. has a 12-month low of $43.63 and a 12-month high of $69.29. The firm’s fifty day moving average price is $50.81 and its two-hundred day moving average price is $55.53. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. The stock has a market cap of $230.34 billion, a P/E ratio of 9.97, a PEG ratio of 1.48 and a beta of 0.72.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. The business had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same period in the previous year, the company posted $1.06 EPS. Analysts predict that Intel Co. will post 4.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, November 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. Intel’s dividend payout ratio is currently 27.10%.
In other news, CEO Robert Holmes Swan purchased 8,021 shares of the business’s stock in a transaction on Friday, July 24th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the purchase, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the sale, the executive vice president now owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,491 shares of company stock valued at $365,878. Corporate insiders own 0.04% of the company’s stock.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices 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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