Boston Partners grew its position in shares of Intel Co. (NASDAQ:INTC) by 134.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,700 shares of the chip maker’s stock after purchasing an additional 34,200 shares during the quarter. Boston Partners’ holdings in Intel were worth $3,076,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in INTC. AdvisorNet Financial Inc grew its position in shares of Intel by 15.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 45,983 shares of the chip maker’s stock valued at $2,201,000 after purchasing an additional 6,197 shares during the period. Forte Capital LLC ADV acquired a new position in Intel during the 2nd quarter worth approximately $482,000. Destination Wealth Management boosted its position in Intel by 265.0% during the 2nd quarter. Destination Wealth Management now owns 75,819 shares of the chip maker’s stock worth $3,629,000 after acquiring an additional 55,048 shares during the last quarter. Lenox Wealth Management Inc. boosted its position in Intel by 8.8% during the 2nd quarter. Lenox Wealth Management Inc. now owns 2,872 shares of the chip maker’s stock worth $137,000 after acquiring an additional 233 shares during the last quarter. Finally, Pioneer Trust Bank N A OR boosted its position in Intel by 0.9% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 117,342 shares of the chip maker’s stock worth $5,617,000 after acquiring an additional 1,005 shares during the last quarter. 65.33% of the stock is currently owned by hedge funds and other institutional investors.
INTC opened at $58.05 on Monday. Intel Co. has a 1-year low of $42.86 and a 1-year high of $59.59. The stock’s fifty day simple moving average is $55.87 and its 200 day simple moving average is $50.01. 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 stock has a market cap of $254.52 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93.
The firm also recently declared a — dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were paid 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 presently 27.51%.
Intel announced that its board has authorized a share repurchase plan on Thursday, October 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the chip maker to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
INTC has been the subject of a number of recent research reports. SunTrust Banks upped their price target on Intel from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Sanford C. Bernstein reaffirmed a “sell” rating and set a $42.00 price target on shares of Intel in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on Intel from $47.00 to $48.00 and gave the stock an “underperform” rating in a research report on Friday, October 25th. Loop Capital set a $50.00 price target on Intel and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Barclays upped 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. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.16.
In related news, EVP Navin Shenoy sold 8,551 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.06, for a total value of $445,165.06. Following the sale, the executive vice president now owns 70,276 shares in the company, valued at approximately $3,658,568.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Balliet sold 6,833 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $24.25, for a total value of $165,700.25. In the last 90 days, insiders sold 71,247 shares of company stock worth $3,810,064. 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.
Recommended Story: Elliott Wave Theory
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).
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.