Investors Sell Shares of Intel (INTC) on Strength Following Insider Selling
Investors sold shares of Intel Co. (NASDAQ:INTC) on strength during trading hours on Monday following insider selling activity. $163.98 million flowed into the stock on the tick-up and $305.65 million flowed out of the stock on the tick-down, for a money net flow of $141.67 million out of the stock. Of all stocks tracked, Intel had the 12th highest net out-flow for the day. Intel traded up $0.88 for the day and closed at $44.83Specifically, CEO Brian M. Krzanich sold 8,659 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $49.40, for a total transaction of $427,754.60. Following the transaction, the chief executive officer now directly owns 263,382 shares in the company, valued at approximately $13,011,070.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Venkata S. M. Renduchintala sold 17,946 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $49.07, for a total transaction of $880,610.22. Following the transaction, the insider now owns 1,536 shares in the company, valued at $75,371.52. The disclosure for this sale can be found here. Insiders have sold a total of 932,755 shares of company stock worth $41,387,752 over the last quarter. 0.08% of the stock is currently owned by insiders.
A number of research analysts have commented on the stock. Vetr upgraded shares of Intel from a “buy” rating to a “strong-buy” rating and set a $49.56 price objective on the stock in a research note on Monday. Macquarie set a $55.00 price target on shares of Intel and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Wells Fargo & Co set a $55.00 price target on shares of Intel and gave the stock a “buy” rating in a research report on Monday, February 5th. Citigroup initiated coverage on shares of Intel in a research report on Tuesday, January 30th. They issued a “buy” rating and a $58.00 price target on the stock. Finally, UBS Group set a $51.00 price target on shares of Intel and gave the stock a “buy” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.31.
The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.36. The stock has a market cap of $209,800.00, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.49 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.30 per share. This is a boost from Intel’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is currently 60.61%.
Several hedge funds have recently bought and sold shares of the stock. Goodman Financial Corp bought a new position in Intel during the fourth quarter valued at approximately $102,000. Delphi Private Advisors LLC raised its position in Intel by 286.1% during the fourth quarter. Delphi Private Advisors LLC now owns 2,911 shares of the chip maker’s stock valued at $134,000 after acquiring an additional 2,157 shares in the last quarter. First Dallas Securities Inc. bought a new position in Intel during the fourth quarter valued at approximately $144,000. Financial Engines Advisors L.L.C. bought a new position in Intel during the third quarter valued at approximately $119,000. Finally, Acrospire Investment Management LLC raised its position in Intel by 111.8% during the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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