Intel Co. (NASDAQ:INTC) Shares Bought by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC raised its position in Intel Co. (NASDAQ:INTC) by 194.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 364,686 shares of the chip maker’s stock after acquiring an additional 241,000 shares during the period. Intel makes up 1.3% of Stone Ridge Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Stone Ridge Asset Management LLC’s holdings in Intel were worth $21,827,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INTC. Frisch Financial Group Inc. lifted its stake in shares of Intel by 0.9% in the fourth quarter. Frisch Financial Group Inc. now owns 18,296 shares of the chip maker’s stock valued at $1,095,000 after purchasing an additional 158 shares during the period. Bull Street Advisors LLC raised its position in Intel by 0.5% during the fourth quarter. Bull Street Advisors LLC now owns 31,147 shares of the chip maker’s stock worth $1,864,000 after acquiring an additional 160 shares during the last quarter. Evanson Asset Management LLC raised its position in Intel by 0.8% during the fourth quarter. Evanson Asset Management LLC now owns 21,877 shares of the chip maker’s stock worth $1,309,000 after acquiring an additional 172 shares during the last quarter. Shepherd Financial Partners LLC raised its position in Intel by 2.1% during the fourth quarter. Shepherd Financial Partners LLC now owns 8,396 shares of the chip maker’s stock worth $502,000 after acquiring an additional 175 shares during the last quarter. Finally, Corundum Group Inc. raised its position in Intel by 2.4% during the fourth quarter. Corundum Group Inc. now owns 7,761 shares of the chip maker’s stock worth $464,000 after acquiring an additional 179 shares during the last quarter. Institutional investors own 66.46% of the company’s stock.

In related news, Director Alyssa Henry bought 15,400 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $1,037,036.00. Also, EVP Navin Shenoy sold 3,685 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $65.72, for a total transaction of $242,178.20. Following the completion of the sale, the executive vice president now owns 56,099 shares of the company’s stock, valued at $3,686,826.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,381 shares of company stock valued at $1,712,265. 0.02% of the stock is owned by insiders.

INTC has been the subject of a number of research reports. Royal Bank of Canada restated a “sell” rating and set a $56.00 target price on shares of Intel in a research report on Friday, January 24th. Barclays lifted their target price on shares of Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Credit Suisse Group lifted their target price on shares of Intel from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Bank of America restated a “buy” rating and set a $75.00 target price (up previously from $70.00) on shares of Intel in a research report on Friday, January 24th. Finally, FIX lifted their target price on shares of Intel from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $65.48.

Shares of NASDAQ INTC traded down $0.38 during midday trading on Friday, reaching $67.06. 9,063,610 shares of the stock were exchanged, compared to its average volume of 23,265,895. The company has a market capitalization of $283.95 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.78 and a beta of 0.86. Intel Co. has a 52-week low of $42.86 and a 52-week high of $69.29. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $62.47 and a 200-day moving average price of $55.21.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 23rd. The chip maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $19.23 billion. Intel had a net margin of 29.25% and a return on equity of 29.01%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, analysts forecast that Intel Co. will post 4.99 earnings per share for the current year.

Intel announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.97%. This is an increase from Intel’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, February 6th. Intel’s payout ratio is presently 27.10%.

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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