Commonwealth Bank of Australia boosted its stake in Intel Co. (NASDAQ:INTC) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 982,418 shares of the chip maker’s stock after purchasing an additional 37,252 shares during the period. Commonwealth Bank of Australia’s holdings in Intel were worth $46,450,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Quad Cities Investment Group LLC bought a new position in shares of Intel during the second quarter valued at $107,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Intel by 375.2% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock valued at $120,000 after acquiring an additional 2,000 shares during the last quarter. Ironwood Financial llc raised its stake in shares of Intel by 429.0% during the third quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock valued at $125,000 after acquiring an additional 2,145 shares during the last quarter. Arlington Partners LLC bought a new position in shares of Intel during the third quarter valued at $151,000. Finally, Cerebellum GP LLC bought a new position in shares of Intel during the third quarter valued at $188,000. 66.38% of the stock is owned by institutional investors and hedge funds.
INTC opened at $51.66 on Friday. Intel Co. has a twelve month low of $42.36 and a twelve month high of $57.60. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 0.34. The firm has a market cap of $241.68 billion, a PE ratio of 11.28, a PEG ratio of 1.33 and a beta of 0.74.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Intel had a net margin of 29.72% and a return on equity of 30.08%. The company had revenue of $18.66 billion during the quarter, compared to analysts’ expectations of $19.02 billion. During the same period in the prior year, the company posted $1.08 earnings per share. Intel’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Intel Co. will post 4.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 2.44%. Intel’s dividend payout ratio is 27.51%.
Intel announced that its board has approved a share repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Several equities analysts have recently issued reports on the stock. Northland Securities downgraded shares of Intel from a “market perform” rating to an “under perform” rating in a research note on Tuesday, December 4th. Needham & Company LLC downgraded shares of Intel from a “buy” rating to a “hold” rating and dropped their price target for the company from $58.00 to $50.00 in a research note on Friday, January 25th. Charter Equity reaffirmed a “mkt perform” rating on shares of Intel in a research note on Friday, January 25th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Intel in a research note on Friday, January 25th. Finally, Royal Bank of Canada dropped their price target on shares of Intel to $50.00 and set a “sector perform” rating for the company in a research note on Friday, January 25th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $53.76.
In related news, CEO Robert Holmes Swan purchased 5,117 shares of Intel stock in a transaction on Thursday, November 29th. The stock was acquired at an average cost of $48.30 per share, for a total transaction of $247,151.10. Following the completion of the acquisition, the chief executive officer now owns 131,839 shares of the company’s stock, valued at approximately $6,367,823.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Navin Shenoy sold 8,552 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $47.93, for a total transaction of $409,897.36. Following the completion of the sale, the executive vice president now owns 66,871 shares of the company’s stock, valued at $3,205,127.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,039 shares of company stock valued at $870,162. 0.03% of the stock is currently owned by corporate insiders.
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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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