Family Legacy Inc. Sells 20,292 Shares of Intel Co. (INTC)
Family Legacy Inc. reduced its position in Intel Co. (NASDAQ:INTC) by 32.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,000 shares of the chip maker’s stock after selling 20,292 shares during the period. Intel comprises about 4.2% of Family Legacy Inc.’s portfolio, making the stock its 3rd biggest holding. Family Legacy Inc.’s holdings in Intel were worth $1,638,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Engines Advisors L.L.C. purchased a new stake in Intel in the 3rd quarter worth $119,000. Acrospire Investment Management LLC increased its holdings in Intel by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after acquiring an additional 1,900 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Intel by 47.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock worth $147,000 after acquiring an additional 1,233 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Intel in the 3rd quarter worth $158,000. Finally, Family Capital Trust Co increased its holdings in Intel by 350.0% in the 3rd quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock worth $171,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 68.24% of the company’s stock.
In other Intel news, EVP Navin Shenoy sold 1,643 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $49.28, for a total value of $80,967.04. Following the transaction, the executive vice president now owns 22,453 shares of the company’s stock, valued at $1,106,483.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian M. Krzanich sold 8,659 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $49.40, for a total transaction of $427,754.60. Following the completion of the transaction, the chief executive officer now directly owns 263,382 shares in the company, valued at approximately $13,011,070.80. The disclosure for this sale can be found here. Insiders sold 123,914 shares of company stock worth $6,011,490 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.22. Intel had a net margin of 15.30% and a return on equity of 24.33%. The company had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.34 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Intel’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities research analysts forecast that Intel Co. will post 3.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.45%. This is a boost from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio is presently 60.61%.
Several brokerages recently commented on INTC. Vetr lowered shares of Intel from a “buy” rating to a “hold” rating and set a $49.39 price target for the company. in a report on Monday, February 26th. Nomura boosted their price target on shares of Intel from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 26th. B. Riley reissued a “buy” rating and issued a $55.00 price target on shares of Intel in a report on Friday, January 26th. Goldman Sachs Group reissued a “neutral” rating and issued a $48.00 price target on shares of Intel in a report on Friday, January 26th. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $46.00 price target on shares of Intel in a report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $49.63.
Intel Company Profile
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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