Principle Wealth Partners LLC lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 452.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 129,833 shares of the chip maker’s stock after acquiring an additional 106,325 shares during the period. Intel makes up about 2.3% of Principle Wealth Partners LLC’s holdings, making the stock its 10th largest holding. Principle Wealth Partners LLC’s holdings in Intel were worth $6,690,000 as of its most recent SEC filing.
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Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Watch Point Trust Co lifted its position in shares of Intel by 2.9% during the 3rd quarter. Watch Point Trust Co now owns 98,562 shares of the chip maker’s stock worth $5,079,000 after purchasing an additional 2,791 shares during the last quarter. Doliver Advisors LP lifted its position in shares of Intel by 4.7% during the 3rd quarter. Doliver Advisors LP now owns 13,760 shares of the chip maker’s stock worth $724,000 after purchasing an additional 617 shares during the last quarter. Private Ocean LLC lifted its position in shares of Intel by 13.8% during the 3rd quarter. Private Ocean LLC now owns 1,650 shares of the chip maker’s stock worth $86,000 after purchasing an additional 200 shares during the last quarter. Karp Capital Management Corp lifted its position in shares of Intel by 2.8% during the 3rd quarter. Karp Capital Management Corp now owns 48,035 shares of the chip maker’s stock worth $2,475,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Intel during the 3rd quarter worth about $62,000. Institutional investors own 67.21% of the company’s stock.
A number of equities research analysts recently commented on INTC shares. Bank of America set a $65.00 price target on Intel and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley increased their price target on Intel from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Credit Suisse Group restated an “outperform” rating and set a $65.00 price target (up from $58.00) on shares of Intel in a research report on Friday, October 25th. They noted that the move was a valuation call. Barclays increased their price target on Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Intel in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Intel has an average rating of “Hold” and an average target price of $55.81.
INTC traded up $0.22 during mid-day trading on Friday, reaching $58.27. The stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The firm’s fifty day simple moving average is $52.89 and its two-hundred day simple moving average is $49.43. Intel Co. has a 52 week low of $42.86 and a 52 week high of $59.59. The stock has a market capitalization of $250.34 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 1.20.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.18. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts expect that Intel Co. will post 4.61 EPS for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.315 dividend. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s dividend payout ratio is 27.51%.
Intel declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the chip maker to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.86, for a total value of $117,571.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Holmes Swan acquired 10,918 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $45.70 per share, with a total value of $498,952.60. Following the acquisition, the chief executive officer now directly owns 168,955 shares in the company, valued at $7,721,243.50. The disclosure for this purchase can be found here. Insiders sold a total of 17,482 shares of company stock worth $911,044 in the last three months. Company insiders own 0.02% of the company’s stock.
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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