Relyea Zuckerberg Hanson LLC bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the 4th quarter, Holdings Channel reports. The firm bought 3,795 shares of the chip maker’s stock, valued at approximately $227,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Intel by 0.3% during the 2nd 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 in the last quarter. Morgan Stanley grew its stake in Intel by 8.2% during the 2nd quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock valued at $1,318,484,000 after purchasing an additional 2,081,749 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Intel by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 27,074,144 shares of the chip maker’s stock worth $1,395,131,000 after purchasing an additional 516,977 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Intel by 1,899.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock valued at $1,204,894,000 after purchasing an additional 23,911,014 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Intel by 0.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,682,368 shares of the chip maker’s stock valued at $962,702,000 after purchasing an additional 147,387 shares in the last quarter. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $58.00, for a total value of $496,016.00. Following the sale, the executive vice president now owns 70,277 shares of the company’s stock, valued at approximately $4,076,066. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank D. Yeary sold 12,545 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $60.35, for a total transaction of $757,090.75. The disclosure for this sale can be found here. Insiders sold 81,284 shares of company stock worth $4,517,194 over the last quarter. 0.02% of the stock is currently owned by company insiders.
INTC has been the subject of a number of recent analyst reports. SunTrust Banks raised 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. Northland Securities reaffirmed a “buy” rating and issued a $69.00 price target on shares of Intel in a report on Tuesday, November 5th. Wells Fargo & Co increased their price objective on shares of Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. BidaskClub raised shares of Intel from a “hold” rating to a “buy” rating in a report on Saturday, January 4th. Finally, Susquehanna Bancshares boosted their target price on shares of Intel from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.66.
Shares of Intel stock opened at $58.94 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $58.52 and its 200-day simple moving average is $53.05. The stock has a market capitalization of $258.52 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.68 and a beta of 0.91. Intel Co. has a twelve month low of $42.86 and a twelve month high of $60.97.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.18. The business had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. Sell-side analysts predict that Intel Co. will post 4.61 earnings per share for the current year.
Intel declared that its board has approved a stock repurchase program on Thursday, October 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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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