Royal Bank of Scotland Group PLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,483 shares of the chip maker’s stock after selling 15,875 shares during the period. Intel makes up approximately 6.0% of Royal Bank of Scotland Group PLC’s holdings, making the stock its 4th biggest position. Royal Bank of Scotland Group PLC’s holdings in Intel were worth $29,353,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Intel by 1.1% in 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 in the last quarter. LSV Asset Management lifted its position in Intel by 1.2% in 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 in the last quarter. Fisher Asset Management LLC lifted its position in Intel by 3.3% in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Intel by 9.1% in 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 in the last quarter. Finally, Swiss National Bank lifted its position in Intel by 3.1% in 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 in the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
NASDAQ:INTC opened at $50.13 on Tuesday. Intel Co. has a 1 year low of $42.04 and a 1 year high of $57.60. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $230.69 billion, a P/E ratio of 14.49, a PEG ratio of 1.29 and a beta of 0.90.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 7th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. Intel’s payout ratio is presently 34.68%.
Intel announced that its board has initiated a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have issued reports on INTC. Wells Fargo & Co cut their target price on shares of Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 10th. Macquarie reiterated a “buy” rating and issued a $60.00 target price on shares of Intel in a research report on Monday, September 10th. Northland Securities downgraded shares of Intel from a “market perform” rating to an “underperform” rating in a research report on Tuesday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $68.00 target price on shares of Intel in a research report on Thursday, August 9th. Finally, Barclays downgraded shares of Intel from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $62.00 to $53.00 in a research report on Monday, August 6th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.47.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total value of $295,945.00. Following the sale, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Holmes Swan purchased 5,117 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was bought at an average price of $48.30 per share, for a total transaction of $247,151.10. Following the completion of the transaction, the chief executive officer now directly owns 131,839 shares in the company, valued at $6,367,823.70. The disclosure for this purchase can be found here. Company insiders own 0.03% of the company’s stock.
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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