BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Intel Co. (NASDAQ:INTC) by 958.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 118,138 shares of the chip maker’s stock after buying an additional 106,974 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Intel were worth $6,394,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lannebo Fonder AB raised its holdings in Intel by 4.0% during the 1st quarter. Lannebo Fonder AB now owns 130,000 shares of the chip maker’s stock worth $7,036,000 after buying an additional 5,000 shares during the period. Flossbach Von Storch AG raised its holdings in shares of Intel by 229.0% during the first quarter. Flossbach Von Storch AG now owns 19,112 shares of the chip maker’s stock worth $1,034,000 after acquiring an additional 13,302 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in Intel by 21.3% in the 1st quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 78,740 shares of the chip maker’s stock valued at $4,261,000 after acquiring an additional 13,830 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Intel by 7.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,638 shares of the chip maker’s stock worth $3,715,000 after purchasing an additional 4,619 shares during the period. Finally, Roberts Glore & Co. Inc. IL boosted its stake in Intel by 0.6% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 80,451 shares of the chip maker’s stock worth $4,354,000 after purchasing an additional 465 shares during the period. 66.27% of the stock is owned by institutional investors and hedge funds.
INTC has been the subject of several recent research reports. Mizuho reaffirmed a “buy” rating and set a $67.00 price objective (down from $71.00) on shares of Intel in a research report on Thursday, April 23rd. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and issued a $85.00 target price on shares of Intel in a research note on Friday, April 24th. Vertical Research started coverage on shares of Intel in a research note on Tuesday, March 24th. They set a “buy” rating for the company. SunTrust Banks boosted their price objective on shares of Intel from $58.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Finally, Goldman Sachs Group raised shares of Intel from a “sell” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $54.00 in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have given a buy rating to the stock. Intel presently has an average rating of “Hold” and a consensus price target of $64.97.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 23rd. The chip maker reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.17. The company had revenue of $19.83 billion for the quarter, compared to analyst estimates of $18.65 billion. Intel had a return on equity of 31.64% and a net margin of 30.02%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts expect that Intel Co. will post 4.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, May 6th. Intel’s dividend payout ratio is currently 27.10%.
In other news, EVP Navin Shenoy sold 9,932 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $57.38, for a total transaction of $569,898.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of Intel stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.67, for a total transaction of $2,823,824.48. Following the completion of the sale, the insider now owns 126,240 shares of the company’s stock, valued at $7,658,980.80. The disclosure for this sale can be found here. In the last three months, insiders sold 118,470 shares of company stock valued at $7,005,231. 0.04% of the stock is currently owned by company insiders.
Intel Company 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.
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