Schwab Charitable Fund raised its stake in Intel Co. (NASDAQ:INTC) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the chip maker’s stock after acquiring an additional 800 shares during the period. Intel comprises about 0.3% of Schwab Charitable Fund’s investment portfolio, making the stock its 22nd largest position. Schwab Charitable Fund’s holdings in Intel were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of 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 purchasing an additional 961,771 shares during the last quarter. Morgan Stanley raised 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 buying an additional 2,081,749 shares during the last quarter. Fisher Asset Management LLC raised 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 buying an additional 516,977 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Intel by 1,899.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock worth $1,204,894,000 after buying an additional 23,911,014 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Intel by 0.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,682,368 shares of the chip maker’s stock worth $962,702,000 after buying an additional 147,387 shares in the last quarter. Hedge funds and other institutional investors own 65.28% of the company’s stock.
Several research firms have weighed in on INTC. Northland Securities restated a “buy” rating and issued a $69.00 price objective on shares of Intel in a research report on Tuesday, November 5th. Mizuho upped their target price on shares of Intel from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their target price on shares of Intel from $47.00 to $48.00 and gave the stock an “underperform” rating in a research report on Friday, October 25th. ValuEngine raised shares of Intel from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets raised their price target on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Intel presently has a consensus rating of “Hold” and an average price target of $56.66.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.18. The firm had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 earnings per share. As a group, sell-side analysts predict that Intel Co. will post 4.61 earnings per share for the current fiscal year.
Intel announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the chip maker to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Chairman Andy D. Bryant sold 46,932 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $58.24, for a total value of $2,733,319.68. Following the completion of the sale, the chairman now owns 425,491 shares in the company, valued at approximately $24,780,595.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James J. Goetz acquired 86,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $58.24 per share, for a total transaction of $5,037,760.00. Following the purchase, the director now directly owns 137,720 shares in the company, valued at approximately $8,020,812.80. The disclosure for this purchase can be found here. Insiders sold a total of 81,284 shares of company stock worth $4,517,194 over the last quarter. 0.02% of the stock is currently owned by corporate 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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