Pitcairn Co. Reduces Holdings in Intel Co. (INTC)
Pitcairn Co. reduced its position in Intel Co. (NASDAQ:INTC) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,016 shares of the chip maker’s stock after selling 1,343 shares during the period. Pitcairn Co.’s holdings in Intel were worth $1,334,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of INTC. City Holding Co. increased its holdings in shares of Intel by 12.5% during the 2nd quarter. City Holding Co. now owns 103,389 shares of the chip maker’s stock valued at $3,487,000 after acquiring an additional 11,465 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Intel by 26.3% during the 2nd quarter. Koshinski Asset Management Inc. now owns 27,797 shares of the chip maker’s stock valued at $938,000 after acquiring an additional 5,784 shares during the last quarter. Dynamic Advisors Solutions LLC increased its holdings in shares of Intel by 9.3% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 68,987 shares of the chip maker’s stock valued at $2,328,000 after acquiring an additional 5,842 shares during the last quarter. RB Capital Management LLC increased its holdings in shares of Intel by 6.8% during the 2nd quarter. RB Capital Management LLC now owns 25,421 shares of the chip maker’s stock valued at $858,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Iberiabank Corp increased its holdings in shares of Intel by 1.8% during the 2nd quarter. Iberiabank Corp now owns 153,793 shares of the chip maker’s stock valued at $5,189,000 after acquiring an additional 2,753 shares during the last quarter. 67.56% of the stock is currently owned by institutional investors.
In other Intel news, EVP Diane M. Bryant sold 570 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.49, for a total value of $25,359.30. Following the completion of the sale, the executive vice president now owns 110,850 shares in the company, valued at approximately $4,931,716.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 889,878 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The disclosure for this sale can be found here. Insiders sold a total of 1,487,054 shares of company stock valued at $65,800,132 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.21. Intel had a return on equity of 22.65% and a net margin of 22.31%. The company had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $15.73 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. sell-side analysts expect that Intel Co. will post 3.25 earnings per share for the current fiscal year.
A number of research analysts have recently commented on INTC shares. Zacks Investment Research lowered Intel from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. ValuEngine raised Intel from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Vetr lowered Intel from a “strong-buy” rating to a “buy” rating and set a $42.80 price objective on the stock. in a report on Tuesday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Intel in a report on Friday, October 6th. Finally, Mizuho reissued a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Intel in a report on Monday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have assigned a buy rating to the stock. Intel currently has an average rating of “Buy” and an average target price of $44.77.
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Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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