Empirical Finance LLC Trims Position in Intel Co. (INTC)

Empirical Finance LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 8.1% during the 4th quarter, Holdings Channel reports. The firm owned 8,409 shares of the chip maker’s stock after selling 744 shares during the period. Empirical Finance LLC’s holdings in Intel were worth $395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tortoise Investment Management LLC boosted its stake 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 during the period. Mackey Komara & Dankovich LLC acquired a new stake in shares of Intel in the 4th quarter worth $84,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Intel by 375.2% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after acquiring an additional 2,000 shares during the last quarter. Fusion Family Wealth LLC increased its stake in shares of Intel by 118.2% in the 4th quarter. Fusion Family Wealth LLC now owns 2,575 shares of the chip maker’s stock worth $121,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Highwater Wealth Management LLC acquired a new stake in shares of Intel in the 4th quarter worth $125,000. Institutional investors own 64.69% of the company’s stock.

Shares of Intel stock opened at $56.71 on Wednesday. Intel Co. has a 12 month low of $42.36 and a 12 month high of $57.60. The stock has a market cap of $263.30 billion, a P/E ratio of 12.38, a PEG ratio of 1.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.73 and a quick ratio of 1.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 24th. The chip maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $18.66 billion during the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. As a group, equities analysts expect that Intel Co. will post 4.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is presently 27.51%.

A number of brokerages recently issued reports on INTC. Royal Bank of Canada reissued a “neutral” rating and set a $55.00 price objective on shares of Intel in a research report on Wednesday, January 23rd. BidaskClub downgraded Intel from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Morgan Stanley raised Intel from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $64.00 in a research report on Friday, February 22nd. Citigroup raised their price objective on Intel from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, January 11th. Finally, Credit Suisse Group reissued a “buy” rating and set a $58.00 price objective on shares of Intel in a research report on Monday, January 28th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.10.

In other news, Chairman Andy D. Bryant sold 11,734 shares of Intel stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.03, for a total value of $622,254.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin Thomas Mcbride sold 518 shares of Intel stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $51.33, for a total value of $26,588.94. Following the completion of the transaction, the vice president now owns 8,274 shares of the company’s stock, valued at approximately $424,704.42. The disclosure for this sale can be found here. Insiders sold a total of 65,431 shares of company stock valued at $3,500,497 in the last quarter. Company insiders own 0.03% of the company’s stock.

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Intel Profile

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.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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