Mount Vernon Associates Inc. MD decreased its stake in Intel Co. (NASDAQ:INTC) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,404 shares of the chip maker’s stock after selling 600 shares during the period. Intel comprises approximately 3.5% of Mount Vernon Associates Inc. MD’s portfolio, making the stock its 9th biggest holding. Mount Vernon Associates Inc. MD’s holdings in Intel were worth $2,340,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Armstrong Henry H Associates Inc. lifted its position in Intel by 0.3% in the third quarter. Armstrong Henry H Associates Inc. now owns 521,282 shares of the chip maker’s stock worth $26,862,000 after purchasing an additional 1,507 shares during the period. Assenagon Asset Management S.A. lifted its position in Intel by 762.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,174,969 shares of the chip maker’s stock worth $215,136,000 after purchasing an additional 3,691,057 shares during the period. Guild Investment Management Inc. lifted its position in Intel by 46.9% in the third quarter. Guild Investment Management Inc. now owns 44,350 shares of the chip maker’s stock worth $2,285,000 after purchasing an additional 14,160 shares during the period. Wilsey Asset Management Inc. lifted its position in Intel by 5.3% in the third quarter. Wilsey Asset Management Inc. now owns 309,085 shares of the chip maker’s stock worth $15,794,000 after purchasing an additional 15,630 shares during the period. Finally, Summit X LLC lifted its position in Intel by 5.3% in the third quarter. Summit X LLC now owns 15,348 shares of the chip maker’s stock worth $789,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 65.93% of the company’s stock.
Shares of NASDAQ:INTC opened at $52.46 on Thursday. Intel Co. has a twelve month low of $42.36 and a twelve month high of $59.59. The firm has a market cap of $228.77 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.57 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. The business has a fifty day moving average of $50.50 and a 200-day moving average of $49.53.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $15.70 billion. During the same period last year, the company posted $1.04 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post 4.38 EPS for the current fiscal year.
The firm 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 (DPR) is presently 27.51%.
Several brokerages recently commented on INTC. Robert W. Baird set a $65.00 target price on Intel and gave the stock a “buy” rating in a research report on Wednesday, September 4th. BidaskClub raised Intel from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Citigroup reaffirmed a “neutral” rating and issued a $53.00 target price (up from $50.00) on shares of Intel in a research report on Friday, July 26th. Bank of America reduced their target price on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Roth Capital set a $60.00 target price on Intel and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.79.
In other news, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $51.76, for a total value of $31,107.76. Following the completion of the sale, the executive vice president now directly owns 53,063 shares in the company, valued at $2,746,540.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andy D. Bryant sold 13,609 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total value of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,541 shares of company stock valued at $2,135,306. 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.
See Also: Forex
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.