Intel Co. (INTC) Shares Sold by Hartland & Co. LLC
Hartland & Co. LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 107,467 shares of the chip maker’s stock after selling 3,648 shares during the period. Hartland & Co. LLC’s holdings in Intel were worth $4,092,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in INTC. Nwam LLC grew its stake in Intel by 18.8% during the 2nd quarter. Nwam LLC now owns 45,896 shares of the chip maker’s stock valued at $1,549,000 after purchasing an additional 7,262 shares during the last quarter. CAPROCK Group Inc. grew its stake in Intel by 9.2% during the 2nd quarter. CAPROCK Group Inc. now owns 42,653 shares of the chip maker’s stock valued at $1,439,000 after purchasing an additional 3,581 shares during the last quarter. Lee Financial Co grew its stake in Intel by 0.5% during the 2nd quarter. Lee Financial Co now owns 32,232 shares of the chip maker’s stock valued at $1,087,000 after purchasing an additional 159 shares during the last quarter. Exchange Capital Management Inc. grew its stake in Intel by 2.8% during the 2nd quarter. Exchange Capital Management Inc. now owns 61,694 shares of the chip maker’s stock valued at $2,082,000 after purchasing an additional 1,685 shares during the last quarter. Finally, Lee Danner & Bass Inc. grew its stake in Intel by 2.1% during the 2nd quarter. Lee Danner & Bass Inc. now owns 315,049 shares of the chip maker’s stock valued at $10,630,000 after purchasing an additional 6,349 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.
In related news, CEO Brian M. Krzanich sold 889,878 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,502 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $44.58, for a total value of $66,959.16. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $68,474.88. The disclosure for this sale can be found here. Insiders have sold 932,755 shares of company stock valued at $41,387,752 in the last three months. Insiders own 0.08% of the company’s stock.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. Intel had a return on equity of 24.33% and a net margin of 15.30%. The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.34 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. equities research analysts expect that Intel Co. will post 3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.64%. This is a boost from Intel’s previous quarterly dividend of $0.27. Intel’s dividend payout ratio is presently 60.61%.
Several analysts have weighed in on the company. KeyCorp reiterated a “buy” rating and set a $50.00 price target on shares of Intel in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Intel in a research note on Friday, October 27th. Deutsche Bank reiterated a “buy” rating and set a $45.00 price target on shares of Intel in a research note on Friday, October 27th. Morningstar set a $41.00 price target on Intel and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Morgan Stanley boosted their price target on Intel from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $49.33.
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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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