Intel (INTC) Shares Sold by Stearns Financial Services Group

Stearns Financial Services Group lowered its position in Intel (NASDAQ:INTC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,205 shares of the chip maker’s stock after selling 3,461 shares during the quarter. Intel makes up about 1.0% of Stearns Financial Services Group’s portfolio, making the stock its 16th biggest position. Stearns Financial Services Group’s holdings in Intel were worth $4,256,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Epstein & White Financial LLC bought a new position in Intel in the fourth quarter worth approximately $262,000. Whalerock Point Partners LLC grew its stake in Intel by 32.8% in the fourth quarter. Whalerock Point Partners LLC now owns 37,490 shares of the chip maker’s stock worth $1,730,000 after purchasing an additional 9,250 shares in the last quarter. Berkshire Asset Management LLC PA grew its stake in Intel by 9.0% in the fourth quarter. Berkshire Asset Management LLC PA now owns 443,604 shares of the chip maker’s stock worth $20,477,000 after purchasing an additional 36,802 shares in the last quarter. Marathon Asset Management LLP grew its stake in Intel by 7.8% in the fourth quarter. Marathon Asset Management LLP now owns 2,746,300 shares of the chip maker’s stock worth $126,776,000 after purchasing an additional 199,461 shares in the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV grew its stake in Intel by 9.4% in the fourth quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 136,437 shares of the chip maker’s stock worth $6,298,000 after purchasing an additional 11,764 shares in the last quarter. 68.23% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on INTC. B. Riley increased their price objective on Intel from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. Stifel Nicolaus increased their target price on Intel from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Friday, April 27th. Bank of America reaffirmed a “buy” rating and set a $65.00 target price on shares of Intel in a research report on Wednesday, April 18th. Tigress Financial raised Intel from a “neutral” rating to a “buy” rating and set a $50.34 target price on the stock in a research report on Thursday, April 5th. Finally, Cowen began coverage on Intel in a research report on Thursday. They set a “market perform” rating and a $55.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Intel presently has an average rating of “Buy” and an average price target of $55.43.

In other Intel news, VP Kevin Thomas Mcbride sold 686 shares of Intel stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.56, for a total transaction of $31,940.16. Following the completion of the transaction, the vice president now owns 6,472 shares in the company, valued at approximately $301,336.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 74,456 shares of Intel stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.67, for a total value of $3,623,773.52. The disclosure for this sale can be found here. Insiders have sold a total of 97,301 shares of company stock valued at $4,785,697 in the last quarter. Company insiders own 0.03% of the company’s stock.

Shares of Intel opened at $53.50 on Friday, Marketbeat.com reports. The firm has a market capitalization of $256.42 billion, a P/E ratio of 15.46, a PEG ratio of 1.70 and a beta of 0.94. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.35. Intel has a 1 year low of $33.23 and a 1 year high of $55.79.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 26th. The chip maker reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.15. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.08 billion. Intel had a return on equity of 25.41% and a net margin of 17.32%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. analysts forecast that Intel will post 3.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, May 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. Intel’s payout ratio is currently 34.68%.

About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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