Parkside Financial Bank & Trust grew its stake in Intel Co. (NASDAQ:INTC) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,394 shares of the chip maker’s stock after buying an additional 2,000 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Intel were worth $948,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in INTC. Centric Wealth Management increased its position in Intel by 18.9% during the third quarter. Centric Wealth Management now owns 13,448 shares of the chip maker’s stock worth $664,000 after buying an additional 2,137 shares during the period. Great Valley Advisor Group Inc. increased its position in Intel by 5.2% during the second quarter. Great Valley Advisor Group Inc. now owns 21,962 shares of the chip maker’s stock worth $1,051,000 after buying an additional 1,077 shares during the period. Larson Financial Group LLC increased its position in Intel by 23.6% during the second quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock worth $124,000 after buying an additional 496 shares during the period. Asset Planning Services Inc. LA ADV increased its position in Intel by 2.1% during the second quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock worth $5,794,000 after buying an additional 2,450 shares during the period. Finally, Grimes & Company Inc. increased its position in Intel by 1.6% during the second quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock worth $18,034,000 after buying an additional 5,942 shares during the period. Institutional investors and hedge funds own 67.21% of the company’s stock.
In other news, Director Frank D. Yeary sold 2,509 shares of Intel stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.86, for a total value of $117,571.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Navin Shenoy sold 1,404 shares of Intel stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.94, for a total transaction of $78,539.76. Following the completion of the sale, the executive vice president now owns 58,168 shares of the company’s stock, valued at $3,253,917.92. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock valued at $911,044 over the last quarter. Company insiders own 0.02% of the company’s stock.
Several research firms have commented on INTC. Sanford C. Bernstein reaffirmed a “sell” rating and set a $42.00 price target on shares of Intel in a research report on Friday, October 25th. Zacks Investment Research raised Intel from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Monday, October 28th. Deutsche Bank reaffirmed a “buy” rating and set a $62.00 price target (up previously from $60.00) on shares of Intel in a research report on Friday, July 26th. Loop Capital set a $50.00 price target on Intel and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Robert W. Baird lifted their price target on Intel from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Intel currently has a consensus rating of “Hold” and an average price target of $55.81.
Shares of NASDAQ:INTC traded up $0.22 during trading on Friday, reaching $58.27. The company had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The firm has a market capitalization of $250.34 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. Intel Co. has a fifty-two week low of $42.86 and a fifty-two week high of $59.59. The stock’s fifty day moving average price is $52.89 and its 200 day moving average price is $49.43.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The firm had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.07 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts anticipate that Intel Co. will post 4.61 EPS for the current fiscal year.
Intel announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared 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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