Puzo Michael J cut its holdings in Intel Co. (NASDAQ:INTC) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,461 shares of the chip maker’s stock after selling 6,034 shares during the quarter. Intel makes up approximately 3.4% of Puzo Michael J’s portfolio, making the stock its 11th largest holding. Puzo Michael J’s holdings in Intel were worth $9,365,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its stake in shares of Intel by 1,899.0% during the second quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock valued at $1,204,894,000 after acquiring an additional 23,911,014 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in Intel by 214.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock valued at $460,532,000 after purchasing an additional 6,564,340 shares during the last quarter. Johanson Financial Advisors Inc. raised its stake in Intel by 5,885.6% in the 4th quarter. Johanson Financial Advisors Inc. now owns 6,161,195 shares of the chip maker’s stock valued at $102,941,000 after purchasing an additional 6,058,262 shares during the last quarter. Man Group plc lifted its holdings in Intel by 978.3% in the 3rd quarter. Man Group plc now owns 5,306,135 shares of the chip maker’s stock valued at $273,424,000 after purchasing an additional 4,814,051 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Intel by 762.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,174,969 shares of the chip maker’s stock valued at $215,136,000 after purchasing an additional 3,691,057 shares in the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
INTC stock opened at $58.94 on Thursday. The company has a market cap of $258.52 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $58.52 and a two-hundred day moving average price of $53.05. Intel Co. has a 12-month low of $42.86 and a 12-month high of $60.97.
Intel (NASDAQ:INTC) last released its quarterly earnings data 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 company had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.40 EPS. Equities analysts forecast that Intel Co. will post 4.61 EPS for the current fiscal year.
Intel announced that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Intel news, Director Frank D. Yeary sold 12,545 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $60.35, for a total transaction of $757,090.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Balliet sold 6,833 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $24.25, for a total transaction of $165,700.25. Insiders sold 81,284 shares of company stock worth $4,517,194 in the last 90 days. 0.02% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on the stock. Cowen lifted their price target on shares of Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Wells Fargo & Co upped their price objective on shares of Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. ValuEngine upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. set a $68.00 target price on shares of Intel and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, SunTrust Banks boosted their price target on Intel from $58.00 to $60.00 and gave the company a “hold” rating in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Intel currently has an average rating of “Hold” and an average target price of $56.66.
Intel Company Profile
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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