Intel Co. (NASDAQ:INTC) Shares Purchased by Private Ocean LLC

Private Ocean LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,650 shares of the chip maker’s stock after acquiring an additional 200 shares during the period. Private Ocean LLC’s holdings in Intel were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Karp Capital Management Corp boosted its stake in shares of Intel by 2.8% during the 3rd quarter. Karp Capital Management Corp now owns 48,035 shares of the chip maker’s stock worth $2,475,000 after purchasing an additional 1,291 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Intel during the 3rd quarter worth about $62,000. Alps Advisors Inc. boosted its stake in shares of Intel by 53.8% during the 3rd quarter. Alps Advisors Inc. now owns 33,662 shares of the chip maker’s stock worth $1,735,000 after purchasing an additional 11,777 shares during the last quarter. CNB Bank boosted its stake in shares of Intel by 6.8% during the 3rd quarter. CNB Bank now owns 25,302 shares of the chip maker’s stock worth $1,304,000 after purchasing an additional 1,615 shares during the last quarter. Finally, New England Research & Management Inc. boosted its stake in shares of Intel by 1.2% during the 3rd quarter. New England Research & Management Inc. now owns 61,662 shares of the chip maker’s stock worth $3,177,000 after purchasing an additional 725 shares during the last quarter. 67.21% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:INTC traded up $0.22 during trading hours on Friday, hitting $58.27. The stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The company has a market cap of $250.34 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. Intel Co. has a 1-year low of $42.86 and a 1-year high of $59.59. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The business has a 50 day simple moving average of $52.89 and a two-hundred day simple moving average of $49.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.24 by $0.18. The business had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.07 billion. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. Research analysts expect that Intel Co. will post 4.61 EPS for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.315 dividend. This represents a yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s payout ratio is currently 27.51%.

Intel announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several brokerages have recently weighed in on INTC. Roth Capital set a $60.00 price objective on shares of Intel and gave the stock a “buy” rating in a report on Friday, July 26th. Deutsche Bank reiterated a “buy” rating and set a $62.00 price objective (up from $60.00) on shares of Intel in a report on Friday, July 26th. Cascend Securities reiterated a “buy” rating and set a $65.00 price objective (up from $55.00) on shares of Intel in a report on Friday, July 26th. Rosenblatt Securities reiterated a “sell” rating on shares of Intel in a report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of Intel from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $55.81.

In other Intel news, CFO George S. Davis bought 5,458 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, for a total transaction of $249,430.60. Following the transaction, the chief financial officer now owns 13,276 shares of the company’s stock, valued at $606,713.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank D. Yeary sold 2,509 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $46.86, for a total transaction of $117,571.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,482 shares of company stock worth $911,044. Corporate insiders own 0.02% of the company’s stock.

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.

Further Reading: How Investors Use a Balance Sheet

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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