Taylor Hoffman Wealth Management grew its stake in Intel Co. (NASDAQ:INTC) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,266 shares of the chip maker’s stock after acquiring an additional 1,230 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Intel were worth $787,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Intel by 0.6% in the second quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock valued at $17,406,717,000 after acquiring an additional 2,219,241 shares in the last quarter. BlackRock Inc. increased its stake in Intel by 0.3% in the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock valued at $14,029,440,000 after purchasing an additional 961,771 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Intel by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,298,451 shares of the chip maker’s stock valued at $1,450,387,000 after purchasing an additional 1,952,840 shares during the last quarter. Morgan Stanley increased its stake in Intel by 8.2% in the second quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock valued at $1,318,484,000 after purchasing an additional 2,081,749 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Intel by 1.9% in the third quarter. Fisher Asset Management LLC now owns 27,074,144 shares of the chip maker’s stock valued at $1,395,131,000 after purchasing an additional 516,977 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.
Shares of INTC traded up $0.22 during trading hours on Friday, hitting $58.27. 11,888,800 shares of the company were exchanged, compared to its average volume of 22,595,813. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. The firm has a fifty day simple moving average of $52.89 and a 200-day simple moving average of $49.43. The company has a market capitalization of $250.34 billion, a PE ratio of 12.72, a PEG ratio of 1.66 and a beta of 0.93. Intel Co. has a one year low of $42.86 and a one year high of $59.59.
The company also recently declared a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid 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 27.51%.
Intel announced that its board has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the chip maker to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Several equities analysts recently commented on the company. KeyCorp reiterated a “hold” rating on shares of Intel in a research note on Friday, October 25th. Nomura set a $65.00 target price on Intel and gave the company a “buy” rating in a research note on Friday, August 23rd. Roth Capital set a $60.00 target price on Intel and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. set a $68.00 target price on Intel and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Loop Capital set a $50.00 target price on Intel and gave the company a “hold” rating in a research note on Friday, October 18th. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $55.81.
In other news, CEO Robert Holmes Swan purchased 10,918 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the completion of the purchase, the chief executive officer now directly owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO George S. Davis purchased 5,458 shares of the 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 $249,430.60. Following the completion of the purchase, the chief financial officer now directly owns 13,276 shares of the company’s stock, valued at $606,713.20. The disclosure for this purchase can be found here. Insiders have sold 17,482 shares of company stock worth $911,044 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.
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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