OppenheimerFunds Inc. lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 27.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,609,501 shares of the chip maker’s stock after selling 620,697 shares during the quarter. OppenheimerFunds Inc.’s holdings in Intel were worth $80,008,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Allstate Corp acquired a new stake in Intel in the 2nd quarter valued at approximately $238,000. Van ECK Associates Corp increased its position in shares of Intel by 39.4% during the 2nd quarter. Van ECK Associates Corp now owns 2,322,364 shares of the chip maker’s stock worth $115,445,000 after purchasing an additional 656,966 shares during the last quarter. Weil Company Inc. increased its position in shares of Intel by 62.3% during the 2nd quarter. Weil Company Inc. now owns 16,647 shares of the chip maker’s stock worth $828,000 after purchasing an additional 6,391 shares during the last quarter. Aureus Asset Management LLC increased its position in shares of Intel by 88.4% during the 2nd quarter. Aureus Asset Management LLC now owns 27,689 shares of the chip maker’s stock worth $1,376,000 after purchasing an additional 12,994 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC increased its position in shares of Intel by 3,603.6% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 170,367 shares of the chip maker’s stock worth $8,469,000 after purchasing an additional 165,767 shares during the last quarter. 64.42% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on INTC shares. Morningstar set a $65.00 price target on Intel and gave the stock a “buy” rating in a research report on Monday, October 1st. Morgan Stanley lowered Intel from an “equal” rating to a “weight” rating in a research report on Monday, October 1st. BidaskClub lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Nomura reaffirmed a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Friday, August 10th. Finally, Macquarie set a $60.00 price target on Intel and gave the stock a “buy” rating in a research report on Sunday, September 30th. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the stock. Intel presently has an average rating of “Hold” and a consensus target price of $55.60.
INTC opened at $47.75 on Thursday. The firm has a market capitalization of $223.39 billion, a P/E ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.91. 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.25. The business had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. On average, research analysts expect that Intel Co. will post 4.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were paid a $0.30 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.51%. Intel’s dividend payout ratio (DPR) is presently 34.68%.
Intel declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the chip maker to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of Intel stock in a transaction on Tuesday, October 30th. The stock was 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 directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,235 shares of Intel stock in a transaction on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the transaction, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The disclosure for this sale can be found here. Insiders sold a total of 13,257 shares of company stock valued at $624,095 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.
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Intel Company Profile
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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