New England Professional Planning Group Inc. acquired a new position in Intel Co. (NASDAQ:INTC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 5,444 shares of the chip maker’s stock, valued at approximately $327,000.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its stake in Intel by 0.3% during the 2nd quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock valued at $14,029,440,000 after purchasing an additional 961,771 shares during the last quarter. Morgan Stanley increased its holdings 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 holdings 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 raised 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 worth $1,204,894,000 after purchasing an additional 23,911,014 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised 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 worth $962,702,000 after purchasing an additional 147,387 shares during the last quarter. 65.28% of the stock is owned by hedge funds and other institutional investors.
Shares of INTC opened at $58.94 on Thursday. Intel Co. has a 52-week low of $42.86 and a 52-week high of $60.97. The stock has a market cap of $258.52 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The firm’s fifty day moving average is $58.52 and its two-hundred day moving average is $53.05. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32.
Intel announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the chip maker to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently commented on INTC. Sanford C. Bernstein reiterated a “sell” rating and issued a $42.00 target price on shares of Intel in a research report on Friday, October 25th. JPMorgan Chase & Co. set a $68.00 price target on shares of Intel and gave the stock an “overweight” rating in a report on Friday, October 25th. Susquehanna Bancshares raised their price target on shares of Intel from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Goldman Sachs Group restated a “sell” rating and set a $48.00 price objective on shares of Intel in a research note on Friday, October 25th. Finally, UBS Group set a $60.00 price objective on Intel and gave the company a “buy” rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.66.
In other Intel news, VP Jennifer Balliet sold 6,833 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $24.25, for a total value of $165,700.25. Also, Director Frank D. Yeary sold 12,545 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 81,284 shares of company stock worth $4,517,194 over the last 90 days. 0.02% of the stock is currently 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.
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