Ascension Asset Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,550 shares of the chip maker’s stock after selling 2,600 shares during the period. Intel comprises 1.6% of Ascension Asset Management LLC’s holdings, making the stock its 23rd largest holding. Ascension Asset Management LLC’s holdings in Intel were worth $1,780,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centric Wealth Management boosted its position in shares of Intel by 18.9% during the 3rd quarter. Centric Wealth Management now owns 13,448 shares of the chip maker’s stock worth $664,000 after acquiring an additional 2,137 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in Intel by 5.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 21,962 shares of the chip maker’s stock valued at $1,051,000 after purchasing an additional 1,077 shares during the last quarter. Larson Financial Group LLC lifted its stake in Intel by 23.6% in the 2nd quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock valued at $124,000 after purchasing an additional 496 shares during the last quarter. Asset Planning Services Inc. LA ADV lifted its stake in Intel by 2.1% in the 2nd quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock valued at $5,794,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Grimes & Company Inc. lifted its stake in Intel by 1.6% in the 2nd quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock valued at $18,034,000 after purchasing an additional 5,942 shares during the last quarter. Institutional investors and hedge funds own 65.94% of the company’s stock.
Shares of NASDAQ INTC opened at $52.01 on Wednesday. Intel Co. has a twelve month low of $42.36 and a twelve month high of $59.59. The firm has a fifty day simple moving average of $51.08 and a 200 day simple moving average of $49.45. The company has a market capitalization of $230.94 billion, a PE ratio of 11.26, a P/E/G ratio of 1.59 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. During the same quarter last year, the firm earned $1.04 earnings per share. Intel’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that Intel Co. will post 4.38 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s dividend payout ratio is presently 27.51%.
Several equities analysts recently commented on INTC shares. Benchmark started coverage on shares of Intel in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Citigroup reissued a “neutral” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Intel in a research note on Friday, July 26th. Morgan Stanley increased their price objective on shares of Intel from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Sanford C. Bernstein reissued a “sell” rating and issued a $39.00 price objective on shares of Intel in a research note on Friday, July 26th. Finally, Bank of America dropped their price objective on shares of Intel from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have given a buy rating to the company. Intel currently has a consensus rating of “Hold” and an average price target of $53.79.
In related news, EVP Navin Shenoy sold 601 shares of Intel stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total transaction of $31,107.76. Following the completion of the transaction, the executive vice president now owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Holmes Swan bought 10,918 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, with a total value of $498,952.60. Following the purchase, the chief executive officer now directly owns 168,955 shares of the company’s stock, valued at $7,721,243.50. The disclosure for this purchase can be found here. Insiders have sold 41,541 shares of company stock valued at $2,135,306 in the last three months. 0.02% of the stock is owned by insiders.
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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