Ropes Wealth Advisors LLC reduced its position in Intel Co. (NASDAQ:INTC – Get Rating) by 26.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,266 shares of the chip maker’s stock after selling 25,807 shares during the period. Ropes Wealth Advisors LLC’s holdings in Intel were worth $3,773,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Intel by 64.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 656 shares of the chip maker’s stock valued at $34,000 after buying an additional 256 shares during the last quarter. Shore Point Advisors LLC purchased a new position in Intel in the 4th quarter valued at about $42,000. Fortis Advisors LLC purchased a new position in Intel in the 3rd quarter valued at about $45,000. Level Financial Advisors Inc. purchased a new position in Intel in the 4th quarter valued at about $45,000. Finally, AHL Investment Management Inc. purchased a new position in Intel in the 4th quarter valued at about $55,000. 62.74% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. The Goldman Sachs Group set a $41.00 price objective on shares of Intel in a research report on Monday, March 28th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Intel in a research note on Friday, February 18th. Morgan Stanley lowered shares of Intel from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $55.00 to $47.00 in a research note on Thursday, March 3rd. Sanford C. Bernstein set a $40.00 price objective on shares of Intel in a report on Friday, April 29th. Finally, UBS Group set a $53.00 price objective on shares of Intel in a report on Monday, February 21st. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.82.
Intel (NASDAQ:INTC – Get Rating) last released its earnings results on Thursday, April 28th. The chip maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. Intel had a net margin of 31.68% and a return on equity of 21.67%. The company had revenue of $18.40 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post 3.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Saturday, May 7th will be given a $0.365 dividend. The ex-dividend date is Thursday, May 5th. This represents a $1.46 dividend on an annualized basis and a yield of 3.35%. Intel’s payout ratio is 24.25%.
In other Intel news, CEO Patrick P. Gelsinger purchased 5,600 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average price of $44.27 per share, for a total transaction of $247,912.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Zinsner purchased 5,500 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were acquired at an average price of $44.73 per share, for a total transaction of $246,015.00. Following the acquisition, the chief financial officer now directly owns 8,803 shares in the company, valued at approximately $393,758.19. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 22,125 shares of company stock valued at $991,265. Insiders own 0.02% of the company’s stock.
About Intel (Get Rating)
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, 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, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
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