Fairfield Bush & CO. Grows Stake in Intel Co. (NASDAQ:INTC)
Fairfield Bush & CO. lifted its position in Intel Co. (NASDAQ:INTC) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,741 shares of the chip maker’s stock after buying an additional 409 shares during the period. Fairfield Bush & CO.’s holdings in Intel were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC boosted its holdings in shares of Intel by 38.4% in the fourth quarter. AlphaMark Advisors LLC now owns 1,085 shares of the chip maker’s stock worth $65,000 after buying an additional 301 shares during the period. Community Financial Services Group LLC raised its position in shares of Intel by 0.9% in the first quarter. Community Financial Services Group LLC now owns 64,954 shares of the chip maker’s stock valued at $3,515,000 after purchasing an additional 606 shares during the period. Krueger & Catalano Capital Partners LLC increased its position in Intel by 18.5% during the first quarter. Krueger & Catalano Capital Partners LLC now owns 5,909 shares of the chip maker’s stock worth $320,000 after acquiring an additional 924 shares during the period. Fusion Capital LLC bought a new position in Intel during the fourth quarter worth $3,128,000. Finally, Dai Ichi Life Insurance Company Ltd increased its position in Intel by 0.5% during the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 486,052 shares of the chip maker’s stock worth $29,090,000 after acquiring an additional 2,320 shares during the period. Hedge funds and other institutional investors own 65.04% of the company’s stock.
In other Intel news, insider Venkata S. M. Renduchintala sold 46,544 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.67, for a total transaction of $2,823,824.48. Following the completion of the transaction, the insider now owns 126,240 shares of the company’s stock, valued at approximately $7,658,980.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Navin Shenoy sold 2,848 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $58.83, for a total value of $167,547.84. Following the transaction, the executive vice president now directly owns 77,709 shares of the company’s stock, valued at approximately $4,571,620.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,547 shares of company stock valued at $5,862,050. 0.04% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 23rd. The chip maker reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Intel had a return on equity of 31.64% and a net margin of 30.02%. The business had revenue of $19.83 billion during the quarter, compared to analysts’ expectations of $18.65 billion. During the same period in the prior year, the business earned $0.89 EPS. Intel’s revenue for the quarter was up 23.5% compared to the same quarter last year. Research analysts predict that Intel Co. will post 4.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 7th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.13%. Intel’s payout ratio is 27.10%.
A number of equities analysts recently issued reports on INTC shares. JPMorgan Chase & Co. set a $80.00 target price on shares of Intel and gave the stock a “buy” rating in a research report on Friday, April 24th. Morgan Stanley reduced their target price on shares of Intel from $69.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Vertical Group assumed coverage on shares of Intel in a research note on Tuesday, March 24th. They issued a “buy” rating on the stock. Wedbush reduced their target price on shares of Intel from $52.50 to $51.00 and set an “underperform” rating on the stock in a research note on Friday, April 24th. Finally, Wells Fargo & Co boosted their target price on shares of Intel from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $64.97.
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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