Wealthsource Partners LLC Buys 1,813 Shares of Intel Co. (INTC)
Wealthsource Partners LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 20.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,601 shares of the chip maker’s stock after buying an additional 1,813 shares during the period. Wealthsource Partners LLC’s holdings in Intel were worth $527,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake 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 valued at $64,179,000 after buying an additional 23,326 shares in the last quarter. Deltec Asset Management LLC acquired a new position in shares of Intel in the 1st quarter valued at $219,000. GSA Capital Partners LLP acquired a new position in shares of Intel in the 1st quarter valued at $712,000. M&R Capital Management Inc. grew its holdings 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 purchasing an additional 2,339 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings 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 purchasing an additional 1,211,481 shares during the last quarter. Institutional investors and hedge funds own 64.42% of the company’s stock.
Several research firms have recently weighed in on INTC. Goldman Sachs Group lowered shares of Intel from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $49.00 to $44.00 in a report on Friday, August 10th. Northland Securities lowered shares of Intel from a “market perform” rating to an “under perform” rating in a report on Tuesday. ValuEngine raised shares of Intel from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. BNP Paribas set a $53.00 target price on shares of Intel and gave the stock a “neutral” rating in a report on Tuesday. Finally, Nomura reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Friday, August 10th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.60.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. Intel had a net margin of 21.91% and a return on equity of 29.64%. The firm had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Analysts expect that Intel Co. will post 4.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
Intel declared that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s management believes its shares are undervalued.
In other 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 value of $226,100.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of 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. Insiders sold a total of 13,257 shares of company stock worth $624,095 in the last ninety days. Insiders own 0.03% of the company’s stock.
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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