Lincoln National Corp cut its holdings in Intel Co. (NASDAQ:INTC) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,500 shares of the chip maker’s stock after selling 1,527 shares during the quarter. Lincoln National Corp’s holdings in Intel were worth $1,585,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of INTC. Quad Cities Investment Group LLC bought a new stake in Intel in the second quarter worth $107,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Intel by 375.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after buying an additional 2,000 shares during the last quarter. Ironwood Financial llc lifted its position in Intel by 429.0% in the third quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock worth $125,000 after buying an additional 2,145 shares during the last quarter. Arlington Partners LLC bought a new stake in Intel in the third quarter worth $151,000. Finally, Cerebellum GP LLC bought a new stake in Intel in the third quarter worth $188,000. 66.38% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Robert Holmes Swan bought 5,117 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were bought at an average price of $48.30 per share, for a total transaction of $247,151.10. Following the completion of the purchase, the chief executive officer now directly owns 131,839 shares of the company’s stock, valued at $6,367,823.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Navin Shenoy sold 4,522 shares of Intel stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $50.00, for a total value of $226,100.00. The disclosure for this sale can be found here. Insiders sold 18,039 shares of company stock worth $870,162 in the last quarter. 0.03% of the stock is owned by insiders.
INTC opened at $48.77 on Tuesday. Intel Co. has a 1 year low of $42.36 and a 1 year high of $57.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.30 and a current ratio of 1.73. The stock has a market capitalization of $228.49 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.29 and a beta of 0.74.
Intel (NASDAQ:INTC) last posted its earnings results 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. Intel had a return on equity of 30.08% and a net margin of 29.72%. The company had revenue of $18.66 billion for the quarter, compared to analyst estimates of $19.02 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post 4.5 EPS for the current fiscal year.
Intel declared that its board has initiated a stock repurchase plan on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, February 6th. This is a positive change from Intel’s previous quarterly dividend of $0.30. Intel’s payout ratio is 27.51%.
INTC has been the subject of several research analyst reports. Macquarie reiterated a “buy” rating and set a $60.00 target price on shares of Intel in a research report on Friday, October 19th. Royal Bank of Canada reiterated a “neutral” rating and set a $55.00 target price on shares of Intel in a research report on Friday, October 19th. Nomura upgraded Intel from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, October 22nd. B. Riley decreased their target price on Intel from $63.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Finally, BidaskClub lowered Intel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.76.
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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