Essex Savings Bank acquired a new stake in shares of Intel Co. (NASDAQ:INTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,021 shares of the chip maker’s stock, valued at approximately $799,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tributary Capital Management LLC bought a new stake in Intel during the fourth quarter worth approximately $28,000. Tortoise Investment Management LLC boosted its holdings in Intel by 86.7% during the third quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock worth $59,000 after buying an additional 580 shares in the last quarter. Ruggie Capital Group boosted its holdings in Intel by 247.0% during the fourth quarter. Ruggie Capital Group now owns 1,440 shares of the chip maker’s stock worth $68,000 after buying an additional 1,025 shares in the last quarter. Mackey Komara & Dankovich LLC bought a new stake in Intel during the fourth quarter worth approximately $84,000. Finally, Lenox Wealth Management Inc. boosted its holdings in Intel by 14.8% during the fourth quarter. Lenox Wealth Management Inc. now owns 2,239 shares of the chip maker’s stock worth $105,000 after buying an additional 289 shares in the last quarter. Institutional investors and hedge funds own 64.80% of the company’s stock.
INTC has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Intel from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. restated a “buy” rating and set a $64.00 target price on shares of Intel in a report on Friday, January 25th. Argus cut shares of Intel from a “buy” rating to a “hold” rating and set a $52.43 target price for the company. in a report on Monday, April 29th. Macquarie set a $60.00 target price on shares of Intel and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein restated a “sell” rating and set a $42.00 target price on shares of Intel in a report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.23.
INTC stock opened at $44.89 on Monday. Intel Co. has a 12-month low of $42.36 and a 12-month high of $59.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.13. The company has a market capitalization of $210.01 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.40 and a beta of 0.75.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 25th. The chip maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02. Intel had a net margin of 29.04% and a return on equity of 29.54%. The company had revenue of $16.10 million during the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, research analysts expect that Intel Co. will post 4.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.81%. Intel’s payout ratio is 27.51%.
In other news, insider Venkata S. M. Renduchintala sold 37,989 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $52.19, for a total transaction of $1,982,645.91. Following the transaction, the insider now owns 76,855 shares in the company, valued at approximately $4,011,062.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 1,254 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $50.80, for a total transaction of $63,703.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,320 shares of company stock valued at $5,343,843. Insiders own 0.02% of the company’s stock.
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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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