Van ECK Associates Corp raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 21.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,258,878 shares of the chip maker’s stock after acquiring an additional 924,631 shares during the period. Intel makes up 1.4% of Van ECK Associates Corp’s holdings, making the stock its 14th largest position. Van ECK Associates Corp owned 0.12% of Intel worth $284,611,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of INTC. BlackRock Inc. grew its stake in shares of Intel by 2.9% during the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after purchasing an additional 8,659,315 shares during the period. Capital International Investors boosted its holdings in Intel by 0.9% during the fourth quarter. Capital International Investors now owns 142,522,918 shares of the chip maker’s stock worth $8,529,995,000 after buying an additional 1,323,789 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intel by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 69,030,997 shares of the chip maker’s stock worth $4,124,265,000 after buying an additional 904,426 shares during the period. Norges Bank bought a new stake in shares of Intel in the 4th quarter valued at about $2,966,694,000. Finally, Bank of New York Mellon Corp lifted its stake in Intel by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock valued at $2,207,470,000 after buying an additional 2,709,735 shares in the last quarter. 65.04% of the stock is currently owned by institutional investors.
In related news, EVP Navin Shenoy sold 2,848 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $58.83, for a total transaction of $167,547.84. Following the completion of the sale, the executive vice president now owns 77,709 shares in the company, valued at $4,571,620.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of Intel stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.67, for a total transaction of $2,823,824.48. Following the completion of the sale, the insider now directly owns 126,240 shares in the company, valued at approximately $7,658,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 118,470 shares of company stock worth $7,005,231 over the last quarter. Company insiders own 0.04% of the company’s stock.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 23rd. The chip maker reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Intel had a return on equity of 31.64% and a net margin of 30.02%. The firm had revenue of $19.83 billion during the quarter, compared to analyst estimates of $18.65 billion. During the same period in the previous year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post 4.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, May 6th. Intel’s payout ratio is currently 27.10%.
A number of equities research analysts recently commented on INTC shares. Wedbush dropped their price objective on shares of Intel from $52.50 to $51.00 and set an “underperform” rating on the stock in a report on Friday, April 24th. Goldman Sachs Group raised Intel from a “sell” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $54.00 in a research note on Tuesday, March 24th. Mizuho restated a “buy” rating and issued a $67.00 price target (down from $71.00) on shares of Intel in a report on Thursday, April 23rd. They noted that the move was a valuation call. Argus raised shares of Intel from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, March 25th. Finally, Susquehanna Bancshares reiterated a “hold” rating and issued a $56.00 price target on shares of Intel in a research note on Tuesday, April 21st. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Intel has an average rating of “Hold” and a consensus target price of $64.97.
Intel Company Profile
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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