Delaney Dennis R trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,456 shares of the chip maker’s stock after selling 338 shares during the period. Intel makes up about 2.0% of Delaney Dennis R’s holdings, making the stock its 23rd biggest holding. Delaney Dennis R’s holdings in Intel were worth $1,523,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in Intel by 0.3% during the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock worth $14,029,440,000 after acquiring an additional 961,771 shares during the period. Morgan Stanley increased its stake in shares of Intel by 8.2% in the second 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 during the period. Fisher Asset Management LLC increased its stake in shares of Intel by 1.9% in the third quarter. Fisher Asset Management LLC now owns 27,074,144 shares of the chip maker’s stock valued at $1,395,131,000 after purchasing an additional 516,977 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Intel by 1,899.0% in the second 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 during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Intel by 0.8% in the third 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 during the period. 65.28% of the stock is owned by hedge funds and other institutional investors.
In other Intel news, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $58.00, for a total value of $496,016.00. Following the completion of the sale, the executive vice president now owns 70,277 shares in the company, valued at approximately $4,076,066. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank D. Yeary sold 12,545 shares of the stock in a transaction that occurred on 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. In the last quarter, insiders sold 81,284 shares of company stock valued at $4,517,194. Insiders own 0.02% of the company’s stock.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The company had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.07 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Intel Co. will post 4.61 EPS for the current year.
Intel announced that its board has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Intel from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna Bancshares raised their price target on shares of Intel from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. BidaskClub upgraded shares of Intel from a “hold” rating to a “buy” rating in a research note on Saturday, January 4th. JPMorgan Chase & Co. set a $68.00 price target on shares of Intel and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Co raised their price target 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. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average 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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