Dearborn Partners LLC raised its stake in Intel Co. (NASDAQ:INTC) by 52.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,523 shares of the chip maker’s stock after purchasing an additional 10,564 shares during the period. Dearborn Partners LLC’s holdings in Intel were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Advisory Inc. purchased a new position in Intel during the 2nd quarter worth approximately $204,242,000. Cantillon Capital Management LLC purchased a new position in Intel during the 2nd quarter worth approximately $121,797,000. Royal London Asset Management Ltd. purchased a new position in Intel during the 2nd quarter worth approximately $97,339,000. Cornerstone Wealth Management LLC grew its stake in Intel by 5,021.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,342,559 shares of the chip maker’s stock worth $26,745,000 after buying an additional 1,316,343 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Intel by 9.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,714,536 shares of the chip maker’s stock worth $781,170,000 after buying an additional 1,308,534 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.
INTC has been the topic of a number of research reports. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, September 26th. BidaskClub downgraded Intel from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Evercore ISI reiterated a “hold” rating on shares of Intel in a research note on Sunday, October 28th. Royal Bank of Canada lowered their target price on Intel from $57.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, October 1st. Finally, Cowen lifted their target price on Intel from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, October 26th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.17.
In related news, EVP Navin Shenoy sold 8,552 shares of the company’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $47.93, for a total value of $409,897.36. Following the completion of the transaction, the executive vice president now directly owns 66,871 shares in the company, valued at $3,205,127.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,809 shares of company stock valued at $1,033,992. Insiders own 0.03% of the company’s stock.
Shares of INTC stock opened at $48.93 on Friday. The firm has a market cap of $224.61 billion, a P/E ratio of 14.14, a PEG ratio of 1.25 and a beta of 0.85. Intel Co. has a 1 year low of $42.04 and a 1 year high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35.
Intel (NASDAQ:INTC) last released its quarterly 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. Intel had a return on equity of 29.64% and a net margin of 21.91%. The company had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. As a group, research analysts predict that Intel Co. will post 4.53 earnings per share for the current year.
Intel declared that its board has approved a stock buyback plan on Thursday, November 15th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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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