59,886 Shares in Intel Co. (NASDAQ:INTC) Bought by Harbour Investment Management LLC
Harbour Investment Management LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,886 shares of the chip maker’s stock, valued at approximately $3,101,000. Intel comprises approximately 1.9% of Harbour Investment Management LLC’s holdings, making the stock its 17th biggest position.
A number of other institutional investors have also recently bought and sold shares of the business. Archford Capital Strategies LLC raised its position in Intel by 2.9% in the third quarter. Archford Capital Strategies LLC now owns 6,639 shares of the chip maker’s stock valued at $344,000 after purchasing an additional 190 shares during the last quarter. Pure Financial Advisors Inc. raised its position in Intel by 4.4% in the second quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock valued at $284,000 after purchasing an additional 199 shares during the last quarter. NewFocus Financial Group LLC raised its position in Intel by 3.7% in the second quarter. NewFocus Financial Group LLC now owns 5,585 shares of the chip maker’s stock valued at $334,000 after purchasing an additional 200 shares during the last quarter. Clarity Wealth Advisors LLC raised its position in Intel by 1.7% in the third quarter. Clarity Wealth Advisors LLC now owns 11,905 shares of the chip maker’s stock valued at $616,000 after purchasing an additional 200 shares during the last quarter. Finally, RMB Capital Management LLC raised its position in Intel by 1.7% in the second quarter. RMB Capital Management LLC now owns 12,588 shares of the chip maker’s stock valued at $753,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.
INTC has been the subject of several research reports. Northland Securities initiated coverage on Intel in a research report on Friday, September 11th. They issued a “sell” rating and a $48.00 target price for the company. Zacks Investment Research downgraded Intel from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Monday, July 27th. Barclays downgraded Intel from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $58.00 to $48.00 in a research report on Friday, July 24th. Credit Suisse Group decreased their target price on Intel from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Tuesday, July 7th. Thirteen equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have given a buy rating to the company. Intel presently has an average rating of “Hold” and an average target price of $57.97.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Intel had a return on equity of 31.55% and a net margin of 29.97%. The company had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. During the same quarter in the previous year, the company posted $1.42 EPS. Intel’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities research analysts expect that Intel Co. will post 4.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.
In other Intel news, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the transaction, the executive vice president now owns 71,807 shares of the company’s stock, valued at approximately $3,459,661.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin Thomas Mcbride sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $49.28, for a total value of $216,832.00. Following the transaction, the vice president now directly owns 14,214 shares of the company’s stock, valued at approximately $700,465.92. The disclosure for this sale can be found here. In the last three months, insiders sold 7,491 shares of company stock valued at $365,878. 0.04% of the stock is currently owned by corporate insiders.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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