Eliot Finkel Investment Counsel LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 1.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 149,025 shares of the chip maker’s stock after selling 2,800 shares during the quarter. Intel makes up approximately 5.5% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Intel were worth $7,761,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in INTC. TIAA CREF Investment Management LLC increased its position in Intel by 47.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock valued at $1,094,509,000 after purchasing an additional 7,669,737 shares during the period. Renaissance Technologies LLC increased its position in Intel by 3,222.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,441,594 shares of the chip maker’s stock valued at $158,864,000 after purchasing an additional 3,338,000 shares during the period. Platinum Investment Management Ltd. increased its position in Intel by 192.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock valued at $245,423,000 after purchasing an additional 3,098,600 shares during the period. Alliancebernstein L.P. increased its position in Intel by 14.7% during the 4th quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock valued at $1,116,510,000 after purchasing an additional 3,095,697 shares during the period. Finally, Mackenzie Financial Corp increased its position in Intel by 2,504.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,958,936 shares of the chip maker’s stock valued at $136,584,000 after purchasing an additional 2,845,310 shares during the period. 66.74% of the stock is owned by institutional investors and hedge funds.
Shares of INTC opened at $46.50 on Tuesday. Intel Co. has a 12-month low of $34.38 and a 12-month high of $57.60. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $228.54 billion, a P/E ratio of 13.44, a PEG ratio of 1.41 and a beta of 1.00.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The company had revenue of $16.96 billion for the quarter, compared to analysts’ expectations of $16.78 billion. During the same period last year, the business earned $0.72 EPS. Intel’s quarterly revenue was up 14.9% compared to the same quarter last year. sell-side analysts forecast that Intel Co. will post 4.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, August 6th. Intel’s dividend payout ratio is currently 34.68%.
In other news, CEO Robert Holmes Swan bought 5,243 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average cost of $47.69 per share, for a total transaction of $250,038.67. Following the acquisition, the chief executive officer now directly owns 71,672 shares in the company, valued at $3,418,037.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $52.43, for a total value of $116,027.59. Following the transaction, the executive vice president now owns 23,268 shares in the company, valued at $1,219,941.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,065 shares of company stock worth $205,200. 0.03% of the stock is owned by company insiders.
INTC has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of Intel from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Sanford C. Bernstein reaffirmed a “sell” rating and set a $38.00 price objective on shares of Intel in a research report on Tuesday, April 24th. Royal Bank of Canada raised their price objective on shares of Intel to $54.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 24th. Credit Suisse Group raised their price objective on shares of Intel from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 25th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Intel in a research report on Friday, April 27th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.55.
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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