Verity & Verity LLC Raises Position in Intel Co. (INTC)

Verity & Verity LLC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 202,858 shares of the chip maker’s stock after buying an additional 3,860 shares during the quarter. Intel makes up 2.3% of Verity & Verity LLC’s portfolio, making the stock its 12th largest position. Verity & Verity LLC’s holdings in Intel were worth $7,725,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of INTC. Brookstone Capital Management grew its stake in Intel by 18.2% in the 3rd quarter. Brookstone Capital Management now owns 21,983 shares of the chip maker’s stock worth $837,000 after acquiring an additional 3,383 shares during the period. First Merchants Corp grew its stake in Intel by 250.9% in the 3rd quarter. First Merchants Corp now owns 88,274 shares of the chip maker’s stock worth $3,361,000 after acquiring an additional 63,114 shares during the period. Meridian Wealth Management LLC purchased a new stake in Intel in the 3rd quarter worth approximately $204,000. Whalerock Point Partners LLC grew its stake in Intel by 31.2% in the 3rd quarter. Whalerock Point Partners LLC now owns 28,240 shares of the chip maker’s stock worth $1,075,000 after acquiring an additional 6,718 shares during the period. Finally, Morse Asset Management Inc grew its stake in Intel by 127.5% in the 3rd quarter. Morse Asset Management Inc now owns 165,935 shares of the chip maker’s stock worth $6,319,000 after acquiring an additional 92,985 shares during the period. Hedge funds and other institutional investors own 67.54% of the company’s stock.

Shares of Intel Co. (NASDAQ INTC) opened at $43.41 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39. Intel Co. has a 12-month low of $33.23 and a 12-month high of $47.64. The firm has a market cap of $203,160.00, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.62 and a beta of 1.06.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. Intel had a net margin of 22.31% and a return on equity of 22.65%. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. analysts anticipate that Intel Co. will post 3.25 earnings per share for the current year.

In related news, insider Stacy J. Smith sold 472,337 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $44.23, for a total transaction of $20,891,465.51. Following the completion of the sale, the insider now directly owns 265,298 shares of the company’s stock, valued at approximately $11,734,130.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Andy D. Bryant sold 89,087 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.80, for a total transaction of $3,991,097.60. Following the sale, the chairman now directly owns 428,789 shares of the company’s stock, valued at $19,209,747.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,487,054 shares of company stock valued at $65,800,132. 0.08% of the stock is owned by corporate insiders.

INTC has been the subject of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Intel from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research raised shares of Intel from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, September 22nd. Barclays reaffirmed a “buy” rating and issued a $55.00 target price on shares of Intel in a research note on Monday, November 13th. Vetr raised shares of Intel from a “buy” rating to a “strong-buy” rating and set a $44.36 target price for the company in a research note on Wednesday, October 11th. Finally, Goldman Sachs Group set a $43.00 target price on shares of Intel and gave the stock a “neutral” rating in a research note on Tuesday, December 12th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Intel has a consensus rating of “Buy” and an average price target of $44.78.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.themarketsdaily.com/2018/01/12/verity-verity-llc-raises-position-in-intel-co-intc.html.

Intel Profile

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply