ProVise Management Group LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 65.1% during the third quarter, HoldingsChannel.com reports. The firm owned 7,850 shares of the chip maker’s stock after selling 14,647 shares during the period. ProVise Management Group LLC’s holdings in Intel were worth $299,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of INTC. Papp L Roy & Associates raised its holdings in shares of Intel by 1.2% in the 2nd quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock valued at $2,297,000 after buying an additional 800 shares during the period. Crescent Grove Advisors LLC purchased a new stake in shares of Intel in the 2nd quarter valued at $555,000. United Bank raised its holdings in shares of Intel by 108.0% in the 2nd quarter. United Bank now owns 43,841 shares of the chip maker’s stock valued at $1,479,000 after buying an additional 22,765 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Intel by 182.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock valued at $530,000 after buying an additional 9,746 shares during the period. Finally, Murphy Pohlad Asset Management LLC raised its holdings in shares of Intel by 15.6% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 120,889 shares of the chip maker’s stock valued at $4,078,000 after buying an additional 16,340 shares during the period. Institutional investors own 67.43% of the company’s stock.
INTC has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Intel from $41.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 20th. Barclays reiterated a “buy” rating and issued a $55.00 price objective on shares of Intel in a report on Monday, November 13th. Vetr upgraded Intel from a “buy” rating to a “strong-buy” rating and set a $44.36 price target on the stock in a report on Wednesday, October 11th. Goldman Sachs Group set a $43.00 price target on Intel and gave the stock a “neutral” rating in a report on Tuesday, December 12th. Finally, BidaskClub downgraded Intel from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 27th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-one have issued a buy rating to the stock. Intel presently has a consensus rating of “Buy” and a consensus target price of $49.10.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.22. The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.34 billion. Intel had a return on equity of 24.33% and a net margin of 15.30%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. equities research analysts predict that Intel Co. will post 3.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.65%. Intel’s dividend payout ratio is 60.61%.
In related news, insider Venkata S. M. Renduchintala sold 17,946 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $49.07, for a total value of $880,610.22. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $75,371.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 889,878 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $44.19, for a total value of $39,323,708.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 931,253 shares of company stock valued at $41,320,793. Insiders own 0.08% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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