Emerald Investment Partners LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 59.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,181 shares of the chip maker’s stock after buying an additional 2,300 shares during the quarter. Emerald Investment Partners LLC’s holdings in Intel were worth $335,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Norges Bank purchased a new position in Intel during the 4th quarter valued at about $2,966,694,000. BlackRock Inc. grew its position in Intel by 2.9% during the 1st quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after purchasing an additional 8,659,315 shares during the last quarter. Renaissance Technologies LLC grew its position in Intel by 2,208.0% during the 4th quarter. Renaissance Technologies LLC now owns 4,181,894 shares of the chip maker’s stock worth $250,286,000 after purchasing an additional 4,000,700 shares during the last quarter. FIL Ltd lifted its stake in Intel by 43.3% during the 4th quarter. FIL Ltd now owns 10,308,613 shares of the chip maker’s stock valued at $616,970,000 after acquiring an additional 3,115,025 shares during the period. Finally, Swiss National Bank lifted its stake in Intel by 20.9% during the 1st quarter. Swiss National Bank now owns 16,882,304 shares of the chip maker’s stock valued at $913,670,000 after acquiring an additional 2,913,600 shares during the period. 65.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intel stock traded down $0.96 during trading hours on Monday, reaching $61.97. 592,164 shares of the company’s stock were exchanged, compared to its average volume of 19,404,608. Intel Co. has a 1 year low of $43.20 and a 1 year high of $69.29. The company has a market capitalization of $263.65 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.75 and a beta of 0.82. The business has a fifty day moving average of $59.60 and a two-hundred day moving average of $58.96. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.48.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, May 6th. Intel’s dividend payout ratio is currently 27.10%.
In other Intel news, Director Andy D. Bryant sold 9,991 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $57.38, for a total value of $573,283.58. Following the transaction, the director now directly owns 425,595 shares in the company, valued at $24,420,641.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Navin Shenoy sold 10,935 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $52.81, for a total transaction of $577,477.35. Following the transaction, the executive vice president now owns 74,844 shares in the company, valued at $3,952,511.64. The disclosure for this sale can be found here. Insiders have sold 118,470 shares of company stock worth $7,005,231 in the last three months. Corporate insiders own 0.04% of the company’s stock.
Several brokerages have commented on INTC. Vertical Research began coverage on shares of Intel in a research note on Tuesday, March 24th. They set a “buy” rating for the company. BMO Capital Markets decreased their price objective on shares of Intel from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Royal Bank of Canada decreased their price objective on shares of Intel from $55.00 to $52.00 and set an “underperform” rating for the company in a research note on Friday, April 24th. Raymond James upgraded shares of Intel from an “underperform” rating to a “market perform” rating and set a $75.00 price objective for the company in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. set a $80.00 target price on shares of Intel and gave the company a “buy” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Intel currently has a consensus rating of “Hold” and a consensus target price of $64.97.
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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