Intel Co. (INTC) Stake Boosted by CIBC World Markets Inc.

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CIBC World Markets Inc. grew its stake in shares of Intel Co. (NASDAQ:INTC) by 93.9% during the 1st quarter, HoldingsChannel reports. The fund owned 744,844 shares of the chip maker’s stock after purchasing an additional 360,724 shares during the quarter. CIBC World Markets Inc.’s holdings in Intel were worth $38,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Virtue Capital Management LLC acquired a new position in shares of Intel during the fourth quarter valued at about $109,000. Elmwood Wealth Management Inc. acquired a new position in shares of Intel during the first quarter valued at about $110,000. Financial Gravity Wealth Inc. acquired a new position in shares of Intel during the first quarter valued at about $120,000. First Dallas Securities Inc. acquired a new position in shares of Intel during the fourth quarter valued at about $144,000. Finally, Well Done LLC acquired a new position in shares of Intel during the first quarter valued at about $156,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

In other news, EVP Steven Ralph Rodgers sold 2,213 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $52.43, for a total transaction of $116,027.59. Following the transaction, the executive vice president now owns 23,268 shares in the company, valued at approximately $1,219,941.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Holmes Swan bought 5,243 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were acquired at an average price of $47.69 per share, for a total transaction of $250,038.67. Following the transaction, the chief executive officer now directly owns 71,672 shares in the company, valued at $3,418,037.68. The disclosure for this purchase can be found here. Insiders have sold a total of 4,077 shares of company stock worth $205,757 in the last quarter. Insiders own 0.03% of the company’s stock.

A number of brokerages recently commented on INTC. Stifel Nicolaus reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a research report on Monday, July 16th. Cowen dropped their target price on Intel from $54.00 to $52.00 and set a “market perform” rating on the stock in a research report on Friday, July 27th. Sanford C. Bernstein set a $42.00 target price on Intel and gave the company a “sell” rating in a research report on Thursday, August 9th. BidaskClub upgraded Intel from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a research report on Monday, July 16th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $55.63.

Intel stock opened at $48.24 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57. Intel Co. has a 12 month low of $34.46 and a 12 month high of $57.60. The company has a market capitalization of $226.20 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.38 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 26th. The chip maker reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The business had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. sell-side analysts expect that Intel Co. will post 4.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Tuesday, August 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. Intel’s dividend payout ratio (DPR) is 34.68%.

Intel Profile

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.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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