Wedge Capital Management L L P NC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 8,542.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 783,465 shares of the chip maker’s stock after purchasing an additional 774,400 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Intel were worth $46,890,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower View Investment Management & Research LLC acquired a new position in shares of Intel in the 4th quarter valued at $31,000. Corbenic Partners LLC acquired a new stake in shares of Intel during the 4th quarter worth $41,000. Intercontinental Wealth Advisors LLC increased its holdings in shares of Intel by 83.0% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after buying an additional 450 shares during the last quarter. Lenox Wealth Advisors LLC raised its position in shares of Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after buying an additional 540 shares during the period. Finally, Garrett Wealth Advisory Group LLC purchased a new position in shares of Intel in the 3rd quarter worth $62,000. Institutional investors and hedge funds own 65.28% of the company’s stock.
Intel stock opened at $58.94 on Thursday. Intel Co. has a 1 year low of $42.86 and a 1 year high of $60.97. The firm’s 50-day moving average is $58.52 and its 200-day moving average is $53.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 1.20. The company has a market cap of $258.52 billion, a P/E ratio of 12.87, a PEG ratio of 1.68 and a beta of 0.91.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.18. The business had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.07 billion. Intel had a net margin of 27.46% and a return on equity of 28.28%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, sell-side analysts predict that Intel Co. will post 4.61 earnings per share for the current year.
Intel announced that its Board of Directors has authorized a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have issued reports on INTC shares. Robert W. Baird boosted their price target on Intel from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded Intel from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. set a $68.00 price objective on Intel and gave the company an “overweight” rating in a research note on Friday, October 25th. Credit Suisse Group reiterated an “outperform” rating and set a $65.00 target price (up previously from $58.00) on shares of Intel in a report on Friday, October 25th. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their target price on shares of Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.66.
In related news, Director Frank D. Yeary sold 12,545 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $60.35, for a total transaction of $757,090.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Balliet sold 6,833 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $24.25, for a total value of $165,700.25. Over the last 90 days, insiders sold 81,284 shares of company stock valued at $4,517,194. 0.02% of the stock is currently owned by insiders.
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.
Read More: Why Invest in Dividend Achievers?
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.