CIBC Private Wealth Group LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 27.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 532,416 shares of the chip maker’s stock after purchasing an additional 116,137 shares during the period. CIBC Private Wealth Group LLC’s holdings in Intel were worth $27,785,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Price Wealth LLC boosted its holdings in shares of Intel by 119.5% in the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 251 shares in the last quarter. FAI Wealth Management lifted its position in Intel by 390.4% in the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock worth $30,000 after purchasing an additional 406 shares during the period. Okabena Investment Services Inc. bought a new position in Intel during the 2nd quarter valued at $42,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Intel during the 2nd quarter valued at $60,000. Finally, Campbell Wealth Management bought a new stake in shares of Intel in the 2nd quarter worth $74,000. 64.41% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on the company. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $60.00 to $45.00 in a report on Friday, October 23rd. The Goldman Sachs Group upgraded Intel from a “sell” rating to a “neutral” rating and cut their price objective for the company from $46.00 to $38.00 in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Intel from $60.00 to $55.00 and set a “hold” rating for the company in a report on Friday, October 23rd. ValuEngine raised Intel from a “strong sell” rating to a “sell” rating in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. reduced their target price on Intel from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Eleven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the company. Intel has an average rating of “Hold” and a consensus price target of $57.69.
Shares of INTC stock opened at $45.39 on Monday. Intel Co. has a 12 month low of $43.61 and a 12 month high of $69.29. The company has a market cap of $187.28 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $50.13 and its two-hundred day moving average is $54.64.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 22nd. The chip maker reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.01. The business had revenue of $18.33 billion during the quarter, compared to the consensus estimate of $18.26 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. Intel’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. As a group, equities analysts expect that Intel Co. will post 4.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is 27.10%.
In other Intel news, EVP Navin Shenoy sold 2,848 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $44.96, for a total transaction of $128,046.08. Following the completion of the sale, the executive vice president now directly owns 72,272 shares in the company, valued at $3,249,349.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Holmes Swan purchased 8,021 shares of the firm’s stock in a transaction on Wednesday, October 28th. The shares were purchased at an average price of $44.96 per share, with a total value of $360,624.16. Following the completion of the acquisition, the chief executive officer now directly owns 309,844 shares of the company’s stock, valued at $13,930,586.24. The disclosure for this purchase can be found here. Insiders have sold 7,837 shares of company stock valued at $371,360 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.
Intel Company Profile
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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