Platinum Investment Management Ltd. decreased its position in Intel Co. (NASDAQ:INTC) by 45.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,795,231 shares of the chip maker’s stock after selling 1,467,320 shares during the period. Intel comprises 1.7% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 20th biggest position. Platinum Investment Management Ltd.’s holdings in Intel were worth $68,362,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. increased its holdings in Intel by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock valued at $263,000 after buying an additional 29 shares in the last quarter. Paradigm Financial Advisors LLC increased its holdings in Intel by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 26,264 shares of the chip maker’s stock valued at $886,000 after buying an additional 67 shares in the last quarter. Marathon Capital Management increased its holdings in Intel by 0.7% in the second quarter. Marathon Capital Management now owns 10,986 shares of the chip maker’s stock valued at $371,000 after buying an additional 80 shares in the last quarter. Sonata Capital Group Inc. increased its holdings in Intel by 0.9% in the second quarter. Sonata Capital Group Inc. now owns 11,846 shares of the chip maker’s stock valued at $400,000 after buying an additional 100 shares in the last quarter. Finally, WealthTrust Fairport LLC increased its holdings in Intel by 0.4% in the second quarter. WealthTrust Fairport LLC now owns 32,181 shares of the chip maker’s stock valued at $1,086,000 after buying an additional 120 shares in the last quarter. 67.74% of the stock is owned by institutional investors.
A number of research firms have weighed in on INTC. UBS Group set a $51.00 price objective on shares of Intel and gave the company a “buy” rating in a report on Monday, January 29th. MKM Partners boosted their target price on shares of Intel to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Vetr cut shares of Intel from a “buy” rating to a “sell” rating and set a $47.74 target price for the company. in a research note on Monday, January 29th. Citigroup began coverage on shares of Intel in a research note on Tuesday, January 30th. They set a “buy” rating and a $58.00 target price for the company. Finally, Nomura reissued a “buy” rating and set a $50.00 target price on shares of Intel in a research note on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.33.
In other news, insider Venkata S. M. Renduchintala sold 1,502 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $44.58, for a total value of $66,959.16. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $68,474.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 17,946 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $49.07, for a total transaction of $880,610.22. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $75,371.52. The disclosure for this sale can be found here. Insiders sold a total of 930,369 shares of company stock worth $41,275,001 over the last three months. Insiders own 0.08% of the company’s stock.
Intel Co. (NASDAQ INTC) opened at $47.73 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.36. The firm has a market cap of $232,190.00, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. Intel Co. has a fifty-two week low of $33.23 and a fifty-two week high of $50.85.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. The company had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.34 billion. Intel had a net margin of 15.30% and a return on equity of 24.33%. Intel’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. equities research analysts predict that Intel Co. will post 3.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Intel’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, February 6th. Intel’s payout ratio is 38.34%.
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Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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