Alps Advisors Inc. Boosts Stake in Intel Co. (NASDAQ:INTC)
Alps Advisors Inc. raised its position in Intel Co. (NASDAQ:INTC) by 53.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,662 shares of the chip maker’s stock after purchasing an additional 11,777 shares during the quarter. Alps Advisors Inc.’s holdings in Intel were worth $1,735,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of INTC. Ogorek Anthony Joseph NY ADV grew its stake in Intel by 500.0% in the 2nd quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Global Trust Asset Management LLC grew its stake in Intel by 273.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after acquiring an additional 2,442 shares in the last quarter. Next Capital Management LLC bought a new position in Intel in the 2nd quarter worth about $48,000. Intercontinental Wealth Advisors LLC grew its stake in Intel by 83.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after acquiring an additional 450 shares in the last quarter. Finally, Lenox Wealth Advisors LLC grew its stake in Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after acquiring an additional 540 shares in the last quarter. 67.21% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the stock. Atlantic Securities assumed coverage on shares of Intel in a research note on Monday, July 22nd. They issued an “underweight” rating and a $38.00 target price on the stock. Credit Suisse Group restated an “outperform” rating and issued a $65.00 target price (up from $58.00) on shares of Intel in a research note on Friday, October 25th. They noted that the move was a valuation call. Sanford C. Bernstein reiterated a “sell” rating and set a $42.00 price objective on shares of Intel in a research note on Friday, October 25th. BMO Capital Markets increased their price objective on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Cowen increased their price objective on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Intel currently has a consensus rating of “Hold” and an average target price of $55.81.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.18. The firm had revenue of $19.19 billion during 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 firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 earnings per share. On average, sell-side analysts expect that Intel Co. will post 4.61 EPS for the current year.
The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.
Intel announced that its board has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the chip maker to buy up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CFO George S. Davis purchased 5,458 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average price of $45.70 per share, for a total transaction of $249,430.60. Following the completion of the transaction, the chief financial officer now owns 13,276 shares in the company, valued at $606,713.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Holmes Swan purchased 10,918 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $45.70 per share, for a total transaction of $498,952.60. Following the transaction, the chief executive officer now owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,482 shares of company stock worth $911,044. 0.02% of the stock is owned by company insiders.
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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