Putnam FL Investment Management Co. lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,928 shares of the chip maker’s stock after selling 56,048 shares during the period. Putnam FL Investment Management Co.’s holdings in Intel were worth $11,025,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in INTC. Price Wealth LLC lifted its holdings in shares of Intel by 119.5% during the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after purchasing an additional 251 shares in the last quarter. FAI Wealth Management lifted its holdings in shares of Intel by 390.4% during the 2nd quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Okabena Investment Services Inc. bought a new position in shares of Intel during the 2nd quarter valued at about $42,000. Demars Financial Group LLC bought a new position in shares of Intel during the 2nd quarter valued at about $43,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Intel in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 64.41% of the company’s stock.
In other Intel news, VP Kevin Thomas Mcbride sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $49.28, for a total transaction of $216,832.00. Following the transaction, the vice president now owns 14,214 shares in the company, valued at approximately $700,465.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 2,848 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $44.96, for a total value of $128,046.08. Following the transaction, the executive vice president now owns 72,272 shares in the company, valued at approximately $3,249,349.12. The disclosure for this sale can be found here. Insiders have sold a total of 7,837 shares of company stock valued at $371,360 in the last ninety days. 0.04% of the stock is currently owned by corporate insiders.
NASDAQ:INTC opened at $45.39 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.66 and a quick ratio of 1.24. The business has a fifty day simple moving average of $50.13 and a two-hundred day simple moving average of $54.64. Intel Co. has a 1 year low of $43.61 and a 1 year high of $69.29. The company has a market capitalization of $187.28 billion, a P/E ratio of 8.90, a P/E/G ratio of 1.25 and a beta of 0.72.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.01. The company had revenue of $18.33 billion during the quarter, compared to analysts’ expectations of $18.26 billion. Intel had a return on equity of 29.44% and a net margin of 28.10%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, analysts anticipate that Intel Co. will post 4.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.
Several research firms have commented on INTC. BidaskClub cut Intel from a “hold” rating to a “sell” rating in a research note on Thursday, October 29th. The Goldman Sachs Group upgraded Intel from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $38.00 in a research note on Wednesday, November 4th. BMO Capital Markets decreased their price objective on Intel from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Friday, July 24th. 140166 upped their price objective on Intel from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Finally, Standpoint Research upgraded Intel from a “hold” rating to a “buy” rating in a research report on Tuesday, September 8th. Eleven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.69.
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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