Welch & Forbes LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754,369 shares of the chip maker’s stock after selling 88,872 shares during the quarter. Welch & Forbes LLC’s holdings in Intel were worth $38,872,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Ogorek Anthony Joseph NY ADV increased its position in shares of Intel by 500.0% in the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 500 shares during the period. Intercontinental Wealth Advisors LLC increased its position in shares of Intel by 83.0% in the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after acquiring an additional 450 shares during the period. Lenox Wealth Advisors LLC increased its position in shares of Intel by 117.4% in the third quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after acquiring an additional 540 shares during the period. Next Capital Management LLC purchased a new position in shares of Intel in the second quarter valued at about $48,000. Finally, Contravisory Investment Management Inc. increased its position in shares of Intel by 234.1% in the second quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock valued at $55,000 after acquiring an additional 803 shares during the period. Institutional investors own 65.89% of the company’s stock.
INTC has been the topic of several research analyst reports. Cascend Securities reiterated a “buy” rating and set a $65.00 price target (up previously from $55.00) on shares of Intel in a research report on Friday, July 26th. Morgan Stanley boosted their price target on shares of Intel from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Robert W. Baird set a $65.00 price target on shares of Intel and gave the company a “buy” rating in a research report on Wednesday, September 4th. Roth Capital set a $60.00 price target on shares of Intel and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America reduced their price target on shares of Intel from $62.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Intel presently has a consensus rating of “Hold” and a consensus price target of $53.79.
In other news, CEO Robert Holmes Swan bought 10,918 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $45.70 per share, for a total transaction of $498,952.60. Following the completion of the purchase, the chief executive officer now owns 168,955 shares in the company, valued at approximately $7,721,243.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Andy D. Bryant sold 13,609 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the transaction, the chairman now owns 450,591 shares in the company, valued at approximately $23,146,859.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,541 shares of company stock worth $2,135,306. Insiders own 0.02% of the company’s stock.
Shares of NASDAQ INTC traded up $1.45 during midday trading on Friday, hitting $52.56. The stock had a trading volume of 11,881,363 shares, compared to its average volume of 18,505,604. The business’s 50 day moving average is $49.72 and its 200-day moving average is $49.56. The company has a market cap of $220.28 billion, a P/E ratio of 11.47, a PEG ratio of 1.51 and a beta of 0.91. Intel Co. has a 52 week low of $42.36 and a 52 week high of $59.59. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.17. The firm had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, analysts expect that Intel Co. will post 4.38 EPS for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.315 dividend. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.
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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