Intel Co. (NASDAQ:INTC) Position Lessened by Cullinan Associates Inc.

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Cullinan Associates Inc. decreased its position in shares of Intel Co. (NASDAQ:INTC) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 350,659 shares of the chip maker’s stock after selling 17,979 shares during the quarter. Intel comprises 1.4% of Cullinan Associates Inc.’s holdings, making the stock its 10th biggest position. Cullinan Associates Inc.’s holdings in Intel were worth $20,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kanawha Capital Management LLC lifted its holdings in shares of Intel by 1.6% during the 2nd quarter. Kanawha Capital Management LLC now owns 320,181 shares of the chip maker’s stock valued at $15,327,000 after purchasing an additional 5,112 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Intel by 214.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock valued at $460,532,000 after acquiring an additional 6,564,340 shares during the period. RMB Capital Management LLC increased its position in shares of Intel by 5.6% in the 2nd quarter. RMB Capital Management LLC now owns 11,653 shares of the chip maker’s stock valued at $558,000 after acquiring an additional 620 shares during the period. Cohen & Steers Inc. increased its position in shares of Intel by 2,782.0% in the 2nd quarter. Cohen & Steers Inc. now owns 18,272 shares of the chip maker’s stock valued at $875,000 after acquiring an additional 17,638 shares during the period. Finally, Gladstone Institutional Advisory LLC increased its position in shares of Intel by 81.1% in the 2nd quarter. Gladstone Institutional Advisory LLC now owns 10,201 shares of the chip maker’s stock valued at $488,000 after acquiring an additional 4,569 shares during the period. 65.28% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Navin Shenoy sold 8,552 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $58.00, for a total transaction of $496,016.00. Following the sale, the executive vice president now directly owns 70,277 shares in the company, valued at approximately $4,076,066. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank D. Yeary sold 12,545 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $60.35, for a total value of $757,090.75. The disclosure for this sale can be found here. Insiders have sold a total of 81,284 shares of company stock worth $4,517,194 over the last 90 days. Insiders own 0.02% of the company’s stock.

Shares of INTC opened at $58.94 on Thursday. The business’s 50-day moving average is $58.52 and its two-hundred day moving average is $53.05. The company has a market capitalization of $258.52 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.68 and a beta of 0.91. 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 Co. has a fifty-two week low of $42.86 and a fifty-two week high of $60.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, topping the 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 company had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. During the same period last year, the firm earned $1.40 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts forecast that Intel Co. will post 4.61 EPS for the current year.

Intel announced that its board has approved a share buyback plan on Thursday, October 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the chip maker to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

INTC has been the topic of several research reports. Robert W. Baird upped their target price on Intel from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Cowen upped their target price on Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Morgan Stanley upped their target price on Intel from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group set a $60.00 target price on Intel and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Sanford C. Bernstein reissued a “sell” rating and issued a $42.00 target price on shares of Intel 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 assigned a strong buy rating to the company’s stock. Intel presently has an average rating of “Hold” and a consensus target price of $56.66.

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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