Resources Management Corp CT ADV bought a new position in Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 187,908 shares of the chip maker’s stock, valued at approximately $9,683,000. Intel accounts for 1.8% of Resources Management Corp CT ADV’s portfolio, making the stock its 15th largest position.
Several other large investors have also recently modified their holdings of INTC. Vanguard Group Inc. boosted its holdings in Intel by 0.6% in the second quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock valued at $17,406,717,000 after purchasing an additional 2,219,241 shares during the last quarter. BlackRock Inc. increased its stake in shares of Intel by 0.3% in the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock worth $14,029,440,000 after buying an additional 961,771 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Intel by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,298,451 shares of the chip maker’s stock valued at $1,450,387,000 after acquiring an additional 1,952,840 shares in the last quarter. Morgan Stanley raised its holdings in Intel by 8.2% in the second quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock valued at $1,318,484,000 after acquiring an additional 2,081,749 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Intel by 1.9% in the third quarter. Fisher Asset Management LLC now owns 27,074,144 shares of the chip maker’s stock valued at $1,395,131,000 after acquiring an additional 516,977 shares in the last quarter. 65.33% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on INTC. Bank of America raised their price objective on shares of Intel from $65.00 to $70.00 and gave the stock a “positive” rating in a report on Monday. They noted that the move was a valuation call. BidaskClub lowered shares of Intel from a “strong-buy” rating to a “buy” rating in a research note on Saturday. SunTrust Banks increased their price target on shares of Intel from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. UBS Group set a $60.00 price target on Intel and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Co boosted their price objective on Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.32.
INTC stock traded down $0.05 during mid-day trading on Wednesday, reaching $56.02. The company had a trading volume of 18,666,453 shares, compared to its average volume of 15,098,742. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $252.52 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.68 and a beta of 0.91. Intel Co. has a one year low of $42.86 and a one year high of $59.59. The stock’s 50-day simple moving average is $56.31 and its two-hundred day simple moving average is $50.25.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.07 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts forecast that Intel Co. will post 4.61 EPS for the current fiscal year.
The company also recently announced a — dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were given a $0.315 dividend. This represents a yield of 2.4%. The ex-dividend date was Wednesday, November 6th. Intel’s dividend payout ratio (DPR) is 27.51%.
Intel announced that its board has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the chip maker to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, VP Jennifer Balliet sold 6,833 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $24.25, for a total value of $165,700.25. Also, Chairman Andy D. Bryant sold 46,932 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $58.24, for a total value of $2,733,319.68. Following the transaction, the chairman now directly owns 425,491 shares in the company, valued at $24,780,595.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,247 shares of company stock valued at $3,837,663. 0.02% of the stock is 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.
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