Inverness Counsel LLC NY trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 25.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the chip maker’s stock after selling 2,570 shares during the quarter. Inverness Counsel LLC NY’s holdings in Intel were worth $286,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of INTC. Vanguard Group Inc. increased its holdings in shares of Intel by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after acquiring an additional 8,087,302 shares during the period. Capital World Investors increased its holdings in shares of Intel by 5.5% in the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after acquiring an additional 10,257,260 shares during the period. Capital Research Global Investors increased its holdings in shares of Intel by 9.1% in the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after acquiring an additional 10,744,753 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Intel by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,601,299 shares of the chip maker’s stock worth $1,707,253,000 after acquiring an additional 177,919 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Intel by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock worth $860,658,000 after acquiring an additional 412,747 shares during the period. Hedge funds and other institutional investors own 67.54% of the company’s stock.
A number of analysts recently weighed in on the stock. Vetr raised shares of Intel from a “buy” rating to a “strong-buy” rating and set a $49.90 price objective on the stock in a report on Wednesday. Sanford C. Bernstein set a $34.00 price objective on shares of Intel and gave the stock a “sell” rating in a report on Wednesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Intel in a report on Friday, October 27th. SunTrust Banks reaffirmed a “hold” rating and issued a $43.00 price objective (up previously from $39.00) on shares of Intel in a report on Friday, October 27th. Finally, Royal Bank of Canada set a $44.00 target price on shares of Intel and gave the company a “neutral” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Intel presently has a consensus rating of “Buy” and an average target price of $44.78.
Shares of Intel Co. (INTC) traded down $0.17 on Friday, hitting $43.24. 29,970,000 shares of the company’s stock traded hands, compared to its average volume of 35,030,000. Intel Co. has a one year low of $33.23 and a one year high of $47.64. The firm has a market capitalization of $202,360.00, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.80 by $0.21. Intel had a net margin of 22.31% and a return on equity of 22.65%. The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. sell-side analysts forecast that Intel Co. will post 3.25 EPS for the current year.
In related news, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $41.06, for a total transaction of $87,006.14. Following the completion of the sale, the executive vice president now directly owns 114,091 shares in the company, valued at $4,684,576.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $40.91, for a total transaction of $67,051.49. Following the sale, the executive vice president now owns 113,086 shares of the company’s stock, valued at $4,626,348.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,487,054 shares of company stock valued at $65,800,132. Corporate insiders own 0.08% of the company’s stock.
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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