Morse Asset Management Inc decreased its position in Intel Co. (NASDAQ:INTC) by 33.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,837 shares of the chip maker’s stock after selling 21,883 shares during the period. Morse Asset Management Inc’s holdings in Intel were worth $2,259,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Ogorek Anthony Joseph NY ADV grew its holdings in 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 purchasing an additional 500 shares during the last quarter. Fulcrum Capital LLC acquired a new stake in Intel in the third quarter valued at $201,000. Intercontinental Wealth Advisors LLC grew its holdings in 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 purchasing an additional 450 shares during the last quarter. Lenox Wealth Advisors LLC grew its holdings in 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 purchasing an additional 540 shares during the last quarter. Finally, Next Capital Management LLC acquired a new stake in Intel in the second quarter valued at $48,000. 67.21% of the stock is currently owned by institutional investors.
INTC has been the topic of a number of analyst reports. Atlantic Securities initiated coverage on Intel in a research note on Monday, July 22nd. They set an “underweight” rating and a $38.00 price objective on the stock. Cascend Securities reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Intel in a research note on Friday, July 26th. Jefferies Financial Group set a $40.00 price objective on Intel and gave the company a “sell” rating in a research note on Friday, July 26th. Cowen increased their price objective on Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Zacks Investment Research raised Intel from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective on the stock in a research note on Monday, October 28th. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Intel presently has an average rating of “Hold” and an average target price of $55.81.
NASDAQ INTC traded up $0.08 during trading hours on Monday, hitting $58.35. 1,023,099 shares of the company’s stock were exchanged, compared to its average volume of 22,595,813. The business’s 50 day moving average is $52.89 and its 200-day moving average is $49.43. Intel Co. has a 12-month low of $42.86 and a 12-month high of $59.59. The firm has a market capitalization of $250.34 billion, a P/E ratio of 12.74, 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 quick ratio of 0.85 and a current ratio of 1.20.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.18. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post 4.61 EPS for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.315 per share. The ex-dividend date is Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio (DPR) is presently 27.51%.
Intel declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Robert Holmes Swan acquired 10,918 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the acquisition, the chief executive officer now directly owns 168,955 shares in the company, valued at approximately $7,721,243.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $56.34, for a total value of $141,357.06. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock worth $911,044 over the last quarter. 0.02% of the stock is currently owned by company 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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