Highstreet Asset Management Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 31.0% during the third quarter, Holdings Channel reports. The firm owned 68,315 shares of the chip maker’s stock after selling 30,725 shares during the period. Highstreet Asset Management Inc.’s holdings in Intel were worth $2,579,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of Intel by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares during the period. Penserra Capital Management LLC increased its stake in Intel by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its stake in Intel by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock valued at $113,000 after buying an additional 1,226 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Intel by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Intel by 18.7% in the second quarter. Financial Management Professionals Inc. now owns 3,960 shares of the chip maker’s stock valued at $129,000 after buying an additional 625 shares in the last quarter. Institutional investors own 64.89% of the company’s stock.
Intel Co. (NASDAQ:INTC) traded up 0.20% during midday trading on Monday, hitting $35.51. 13,549,048 shares of the stock traded hands. The company’s 50-day moving average is $35.38 and its 200 day moving average is $34.52. Intel Co. has a 12-month low of $27.68 and a 12-month high of $38.36. The firm has a market cap of $168.28 billion, a P/E ratio of 16.66 and a beta of 1.07.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. Intel had a net margin of 17.90% and a return on equity of 21.05%. The firm earned $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Intel’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post $2.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel’s dividend payout ratio (DPR) is presently 49.06%.
Several research firms have weighed in on INTC. B. Riley reissued a “buy” rating and issued a $42.00 price target on shares of Intel in a research note on Monday, August 22nd. Robert W. Baird boosted their price target on shares of Intel from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. boosted their price target on shares of Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, September 19th. Sanford C. Bernstein set a $33.00 price target on shares of Intel and gave the stock a “neutral” rating in a research note on Thursday, October 20th. Finally, Vetr downgraded shares of Intel from a “strong-buy” rating to a “buy” rating and set a $39.32 price target for the company. in a research note on Tuesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.71.
In other Intel news, CEO Brian M. Krzanich sold 67,508 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the completion of the transaction, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $34.92, for a total transaction of $488,775.24. Following the transaction, the executive vice president now directly owns 817 shares of the company’s stock, valued at approximately $28,529.64. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.