Needelman Asset Management Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,620 shares of the chip maker’s stock after selling 2,225 shares during the period. Intel accounts for approximately 3.5% of Needelman Asset Management Inc.’s portfolio, making the stock its 7th largest holding. Needelman Asset Management Inc.’s holdings in Intel were worth $1,413,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lynch & Associates IN lifted its stake in shares of Intel by 2.3% during the fourth quarter. Lynch & Associates IN now owns 197,216 shares of the chip maker’s stock valued at $9,103,000 after buying an additional 4,422 shares during the period. McQueen Ball & Associates Inc. lifted its stake in shares of Intel by 2.8% during the fourth quarter. McQueen Ball & Associates Inc. now owns 76,997 shares of the chip maker’s stock valued at $3,554,000 after buying an additional 2,094 shares during the period. Fulton Bank N.A. lifted its stake in shares of Intel by 3.6% during the fourth quarter. Fulton Bank N.A. now owns 96,672 shares of the chip maker’s stock valued at $4,462,000 after buying an additional 3,379 shares during the period. Washington Trust Bank lifted its stake in shares of Intel by 7.0% during the fourth quarter. Washington Trust Bank now owns 45,359 shares of the chip maker’s stock valued at $2,094,000 after buying an additional 2,967 shares during the period. Finally, Park National Corp OH lifted its stake in shares of Intel by 0.6% during the fourth quarter. Park National Corp OH now owns 859,591 shares of the chip maker’s stock valued at $39,679,000 after buying an additional 5,501 shares during the period. 68.24% of the stock is currently owned by institutional investors.
In other Intel news, VP Kevin Thomas Mcbride sold 686 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $46.56, for a total transaction of $31,940.16. Following the transaction, the vice president now directly owns 6,472 shares in the company, valued at approximately $301,336.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Venkata S. M. Renduchintala sold 17,946 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $49.07, for a total transaction of $880,610.22. Following the transaction, the insider now owns 1,536 shares in the company, valued at $75,371.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,914 shares of company stock valued at $6,011,490. Company insiders own 0.08% of the company’s stock.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.22. The business had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.34 billion. Intel had a net margin of 15.30% and a return on equity of 24.33%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. equities analysts anticipate that Intel Co. will post 3.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Wednesday, February 7th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. This is a positive change from Intel’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is presently 38.34%.
INTC has been the topic of several recent analyst reports. Oppenheimer reissued a “hold” rating on shares of Intel in a research note on Thursday, January 4th. Canaccord Genuity upped their price objective on shares of Intel from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, November 17th. JPMorgan Chase & Co. set a $53.00 price objective on shares of Intel and gave the company a “buy” rating in a research note on Thursday, January 4th. BidaskClub raised shares of Intel from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Stifel Nicolaus upped their price target on shares of Intel from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Intel presently has an average rating of “Buy” and an average target price of $49.96.
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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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