Icon Wealth Partners LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 40,115 shares of the chip maker’s stock after selling 1,860 shares during the period. Intel accounts for about 0.8% of Icon Wealth Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Icon Wealth Partners LLC’s holdings in Intel were worth $1,994,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Intel by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 51,466,042 shares of the chip maker’s stock worth $2,558,294,000 after buying an additional 559,856 shares during the last quarter. LSV Asset Management grew its stake in Intel by 1.2% during the 2nd quarter. LSV Asset Management now owns 25,064,455 shares of the chip maker’s stock worth $1,245,954,000 after buying an additional 304,293 shares during the last quarter. Fisher Asset Management LLC grew its stake in Intel by 3.3% during the 2nd quarter. Fisher Asset Management LLC now owns 23,435,777 shares of the chip maker’s stock worth $1,164,993,000 after buying an additional 745,116 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Intel by 9.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,714,536 shares of the chip maker’s stock worth $781,170,000 after buying an additional 1,308,534 shares during the last quarter. Finally, Swiss National Bank grew its stake in Intel by 3.1% during the 2nd quarter. Swiss National Bank now owns 15,473,602 shares of the chip maker’s stock worth $769,193,000 after buying an additional 458,600 shares during the last quarter. Institutional investors and hedge funds own 64.42% of the company’s stock.
A number of research firms recently issued reports on INTC. BNP Paribas set a $53.00 price target on Intel and gave the stock a “neutral” rating in a research note on Tuesday. Northland Securities downgraded Intel from a “market perform” rating to an “under perform” rating in a research note on Tuesday. ValuEngine upgraded Intel from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. DZ Bank downgraded Intel from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Thursday, November 29th. Finally, UBS Group downgraded Intel from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.60.
In other news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the sale, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The disclosure for this sale can be found here. Insiders sold a total of 13,257 shares of company stock valued at $624,095 over the last three months. Insiders own 0.03% of the company’s stock.
INTC opened at $48.37 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $223.39 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.91. Intel Co. has a 12 month low of $42.04 and a 12 month high of $57.60.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.15 by $0.25. The business had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. As a group, research analysts forecast that Intel Co. will post 4.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.20 annualized dividend and a dividend yield of 2.48%. Intel’s dividend payout ratio is currently 34.68%.
Intel declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the chip maker to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Intel Company 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.
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