Rosenberg Matthew Hamilton reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,795 shares of the chip maker’s stock after selling 2,310 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Intel were worth $248,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in shares of Intel during the second quarter valued at approximately $25,000. Price Wealth LLC boosted its stake in Intel by 119.5% in the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 251 shares during the last quarter. FAI Wealth Management boosted its stake in Intel by 390.4% in the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 406 shares during the last quarter. Okabena Investment Services Inc. bought a new position in Intel in the second quarter valued at approximately $42,000. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Intel during the second quarter worth $60,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on INTC shares. Morgan Stanley reduced their price target on shares of Intel from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, July 24th. Bank of America cut shares of Intel from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $70.00 to $62.00 in a research report on Friday, July 24th. SVB Leerink started coverage on shares of Intel in a research report on Friday, July 24th. They set a “hold” rating on the stock. Barclays cut shares of Intel from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $58.00 to $48.00 in a research report on Friday, July 24th. Finally, BMO Capital Markets reduced their price target on shares of Intel from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th. Twelve analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the stock. Intel currently has a consensus rating of “Hold” and an average target price of $61.24.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The company had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. During the same quarter last year, the firm posted $1.06 EPS. As a group, research analysts forecast that Intel Co. will post 4.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.
In related news, VP Kevin Thomas Mcbride sold 4,400 shares of Intel stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $49.28, for a total transaction of $216,832.00. Following the completion of the sale, the vice president now owns 14,214 shares of the company’s stock, valued at approximately $700,465.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Holmes Swan bought 8,021 shares of Intel stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average cost of $50.00 per share, with a total value of $401,050.00. Following the acquisition, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The disclosure for this purchase can be found here. In the last three months, insiders sold 7,491 shares of company stock valued at $365,878. Insiders own 0.04% of the company’s stock.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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