Field & Main Bank decreased its position in Intel Co. (NASDAQ:INTC) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,675 shares of the chip maker’s stock after selling 1,700 shares during the period. Field & Main Bank’s holdings in Intel were worth $1,474,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Capital International Investors boosted its holdings in shares of Intel by 5.2% in the second quarter. Capital International Investors now owns 105,043,103 shares of the chip maker’s stock valued at $5,897,593,000 after acquiring an additional 5,214,436 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intel by 3.8% in the second quarter. Geode Capital Management LLC now owns 76,627,150 shares of the chip maker’s stock valued at $4,291,607,000 after acquiring an additional 2,777,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Intel by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 38,924,754 shares of the chip maker’s stock valued at $2,185,413,000 after acquiring an additional 290,090 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Intel by 2.1% during the second quarter. Primecap Management Co. CA now owns 34,918,555 shares of the chip maker’s stock worth $1,960,328,000 after buying an additional 709,880 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Intel by 4.0% during the second quarter. Fisher Asset Management LLC now owns 31,416,835 shares of the chip maker’s stock worth $1,763,741,000 after buying an additional 1,221,696 shares in the last quarter. 62.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Dion J. Weisler bought 10,351 shares of the firm’s stock in a transaction dated Thursday, October 28th. The stock was acquired at an average cost of $48.11 per share, for a total transaction of $497,986.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank D. Yeary bought 10,000 shares of the firm’s stock in a transaction dated Monday, October 25th. The stock was purchased at an average price of $49.66 per share, with a total value of $496,600.00. The disclosure for this purchase can be found here. 0.02% of the stock is owned by corporate insiders.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, October 20th. The chip maker reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.60. Intel had a net margin of 26.89% and a return on equity of 28.74%. The company had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.22 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. On average, sell-side analysts anticipate that Intel Co. will post 5.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Sunday, November 7th will be given a $0.3475 dividend. This represents a $1.39 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 4th. Intel’s payout ratio is currently 26.99%.
A number of research firms recently commented on INTC. Morgan Stanley downgraded shares of Intel from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $67.00 to $55.00 in a report on Friday, October 22nd. The Goldman Sachs Group reissued a “sell” rating and set a $44.00 price objective (down previously from $51.00) on shares of Intel in a report on Friday, October 22nd. BMO Capital Markets downgraded shares of Intel from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $60.00 to $52.00 in a report on Tuesday, October 26th. Roth Capital decreased their price objective on shares of Intel from $60.00 to $53.00 and set a “neutral” rating on the stock in a report on Friday, October 22nd. Finally, Bank of America decreased their price objective on shares of Intel from $52.00 to $45.00 and set an “underperform” rating on the stock in a report on Friday, October 22nd. Eleven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $56.52.
Intel Company Profile
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.
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