State of Tennessee Treasury Department cut its stake in shares of Intel Co. (NASDAQ:INTC) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,437,318 shares of the chip maker’s stock after selling 75,300 shares during the quarter. Intel accounts for approximately 0.6% of State of Tennessee Treasury Department’s holdings, making the stock its 25th biggest position. State of Tennessee Treasury Department owned approximately 0.06% of Intel worth $145,874,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Intel by 0.3% in the 2nd quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock valued at $14,029,440,000 after purchasing an additional 961,771 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Intel by 762.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,174,969 shares of the chip maker’s stock worth $215,136,000 after buying an additional 3,691,057 shares in the last quarter. Armstrong Henry H Associates Inc. boosted its holdings in Intel by 0.3% during the third quarter. Armstrong Henry H Associates Inc. now owns 521,282 shares of the chip maker’s stock worth $26,862,000 after buying an additional 1,507 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Intel during the third quarter worth about $482,000. Finally, Signaturefd LLC grew its position in Intel by 7.4% during the third quarter. Signaturefd LLC now owns 43,605 shares of the chip maker’s stock worth $2,247,000 after buying an additional 3,021 shares during the period. Hedge funds and other institutional investors own 66.46% of the company’s stock.
A number of research firms have recently issued reports on INTC. BMO Capital Markets reiterated a “market perform” rating and set a $65.00 price target on shares of Intel in a research report on Friday, January 24th. FIX upped their price target on Intel from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Tigress Financial reaffirmed a “buy” rating on shares of Intel in a research note on Tuesday, January 28th. Cowen lifted their price objective on Intel from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their target price on Intel from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Intel currently has an average rating of “Hold” and an average target price of $65.48.
INTC traded down $0.16 during trading on Friday, hitting $67.28. The company’s stock had a trading volume of 1,281,267 shares, compared to its average volume of 23,265,895. Intel Co. has a twelve month low of $42.86 and a twelve month high of $69.29. The stock has a market cap of $283.95 billion, a PE ratio of 14.25, a PEG ratio of 1.78 and a beta of 0.86. The firm’s 50 day moving average price is $62.47 and its 200-day moving average price is $55.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 1.01.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 23rd. The chip maker reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 29.01% and a net margin of 29.25%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 earnings per share. Equities analysts anticipate that Intel Co. will post 4.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Intel’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, February 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.
Intel declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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