Intel Co. (INTC) Shares Sold by Mitsubishi UFJ Securities Holdings Co. Ltd.
Mitsubishi UFJ Securities Holdings Co. Ltd. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 47.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,070 shares of the chip maker’s stock after selling 5,590 shares during the quarter. Intel accounts for about 1.1% of Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings, making the stock its 24th largest position. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Intel were worth $302,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Sei Investments Co. lifted its position in shares of Intel by 1.9% in the 1st quarter. Sei Investments Co. now owns 1,232,322 shares of the chip maker’s stock worth $64,179,000 after buying an additional 23,326 shares during the last quarter. Deltec Asset Management LLC bought a new position in shares of Intel in the 1st quarter worth about $219,000. GSA Capital Partners LLP bought a new position in shares of Intel in the 1st quarter worth about $712,000. M&R Capital Management Inc. lifted its position in shares of Intel by 8.7% in the 1st quarter. M&R Capital Management Inc. now owns 29,175 shares of the chip maker’s stock worth $1,519,000 after buying an additional 2,339 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in shares of Intel by 118.9% in the 1st quarter. OppenheimerFunds Inc. now owns 2,230,198 shares of the chip maker’s stock worth $116,149,000 after buying an additional 1,211,481 shares during the last quarter. Institutional investors own 64.42% of the company’s stock.
INTC has been the topic of a number of recent research reports. Goldman Sachs Group downgraded shares of Intel from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $49.00 to $44.00 in a research report on Friday, August 10th. Nomura reiterated a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research report on Friday, August 10th. Cowen cut their price objective on shares of Intel from $52.00 to $49.00 and set a “market perform” rating on the stock in a research report on Monday, August 13th. Macquarie set a $60.00 price objective on shares of Intel and gave the company a “buy” rating in a research report on Thursday, August 16th. Finally, Wells Fargo & Co set a $58.00 price objective on shares of Intel and gave the company a “buy” rating in a research report on Monday, August 20th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the company’s stock. Intel presently has a consensus rating of “Hold” and a consensus price target of $55.60.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.25. The firm had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. As a group, research analysts forecast that Intel Co. will post 4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.60%. Intel’s payout ratio is 34.68%.
Intel declared that its Board of Directors has initiated a stock buyback program on Thursday, November 15th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the chip maker to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Intel news, EVP Navin Shenoy sold 4,522 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $50.00, for a total transaction of $226,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the transaction, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,257 shares of company stock worth $624,095. 0.03% of the stock is owned by corporate insiders.
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Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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