Larson Financial Group LLC boosted its stake in Intel Co. (NASDAQ:INTC) by 42.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,707 shares of the chip maker’s stock after acquiring an additional 1,107 shares during the quarter. Larson Financial Group LLC’s holdings in Intel were worth $191,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Signet Financial Management LLC increased its stake in shares of Intel by 3.7% during the fourth quarter. Signet Financial Management LLC now owns 50,961 shares of the chip maker’s stock valued at $2,392,000 after buying an additional 1,800 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of Intel during the fourth quarter valued at approximately $223,000. Foresters Investment Management Company Inc. increased its stake in shares of Intel by 6.5% during the fourth quarter. Foresters Investment Management Company Inc. now owns 1,277,755 shares of the chip maker’s stock valued at $59,965,000 after buying an additional 77,800 shares during the period. Polar Capital LLP increased its stake in shares of Intel by 12.3% during the fourth quarter. Polar Capital LLP now owns 915,920 shares of the chip maker’s stock valued at $42,984,000 after buying an additional 99,994 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Intel during the fourth quarter valued at approximately $2,396,000. Institutional investors and hedge funds own 65.89% of the company’s stock.
Several equities analysts have recently issued reports on the company. Deutsche Bank reissued a “buy” rating and set a $62.00 target price (up from $60.00) on shares of Intel in a research note on Friday, July 26th. Jefferies Financial Group set a $40.00 target price on Intel and gave the company a “sell” rating in a research note on Friday, July 26th. Tigress Financial reissued a “buy” rating on shares of Intel in a research note on Friday, August 30th. Atlantic Securities assumed coverage on Intel in a research note on Monday, July 22nd. They issued an “underweight” rating and a $38.00 price target on the stock. Finally, Goldman Sachs Group reaffirmed a “sell” rating and issued a $47.00 price target on shares of Intel in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.79.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. Intel’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. Sell-side analysts predict that Intel Co. will post 4.38 EPS for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.315 per share. This represents a yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.51%.
In related news, Chairman Andy D. Bryant sold 13,609 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares in the company, valued at $23,146,859.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reed E. Hundt sold 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $52.45, for a total value of $524,500.00. Following the sale, the director now owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,541 shares of company stock valued at $2,135,306. 0.02% of the stock is owned by company insiders.
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.
See Also: Buy-Side Analysts
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