Keybank National Association OH trimmed its position in Intel Co. (NASDAQ:INTC) by 1.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,534,840 shares of the chip maker’s stock after selling 54,562 shares during the quarter. Intel makes up about 1.2% of Keybank National Association OH’s holdings, making the stock its 15th largest holding. Keybank National Association OH’s holdings in Intel were worth $214,453,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in INTC. Keeler Thomas Management LLC grew its holdings in Intel by 130.7% during the 3rd quarter. Keeler Thomas Management LLC now owns 13,644 shares of the chip maker’s stock valued at $654,000 after buying an additional 7,730 shares in the last quarter. Blankinship & Foster LLC purchased a new stake in Intel during the 3rd quarter valued at approximately $223,000. Destination Wealth Management grew its holdings in Intel by 58.0% during the 3rd quarter. Destination Wealth Management now owns 18,894 shares of the chip maker’s stock valued at $894,000 after buying an additional 6,935 shares in the last quarter. Swiss National Bank grew its holdings in Intel by 3.1% during the 2nd quarter. Swiss National Bank now owns 15,473,602 shares of the chip maker’s stock valued at $769,193,000 after buying an additional 458,600 shares in the last quarter. Finally, Cedar Capital LLC grew its holdings in Intel by 40.0% during the 3rd quarter. Cedar Capital LLC now owns 22,737 shares of the chip maker’s stock valued at $1,075,000 after buying an additional 6,500 shares in the last quarter. 64.07% of the stock is owned by institutional investors.
Shares of INTC opened at $51.39 on Thursday. The firm has a market capitalization of $240.47 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.36 and a beta of 0.74. Intel Co. has a 52-week low of $42.36 and a 52-week high of $57.60. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 0.34.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $18.66 billion during the quarter, compared to the consensus estimate of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. Intel’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, sell-side analysts anticipate that Intel Co. will post 4.5 earnings per share for the current fiscal year.
Intel announced that its board has authorized a share repurchase program on Thursday, November 15th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This is an increase from Intel’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a yield of 2.45%. Intel’s dividend payout ratio (DPR) is currently 27.51%.
In other Intel news, EVP Navin Shenoy sold 4,522 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $50.00, for a total value of $226,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Holmes Swan bought 5,263 shares of Intel stock in a transaction on Thursday, December 6th. The stock was acquired at an average price of $46.74 per share, for a total transaction of $245,992.62. Following the purchase, the chief executive officer now owns 137,102 shares of the company’s stock, valued at $6,408,147.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 18,039 shares of company stock valued at $870,162. 0.03% of the stock is owned by corporate insiders.
INTC has been the subject of a number of research analyst reports. Evercore ISI reaffirmed a “hold” rating on shares of Intel in a report on Sunday, October 28th. Cowen increased their price objective on shares of Intel from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, October 26th. Goldman Sachs Group reaffirmed a “sell” rating and set a $44.00 price objective on shares of Intel in a report on Tuesday, January 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $64.00 price objective on shares of Intel in a report on Friday, January 25th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $55.00 price objective on shares of Intel in a report on Sunday, October 28th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. Intel currently has a consensus rating of “Hold” and an average target price of $53.76.
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Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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