Bowling Portfolio Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 30.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,995 shares of the chip maker’s stock after selling 23,950 shares during the period. Intel makes up 0.9% of Bowling Portfolio Management LLC’s portfolio, making the stock its 21st biggest holding. Bowling Portfolio Management LLC’s holdings in Intel were worth $3,584,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in INTC. United Bank lifted its stake in shares of Intel by 9.8% in the third quarter. United Bank now owns 32,301 shares of the chip maker’s stock valued at $1,673,000 after buying an additional 2,877 shares during the period. Wealth Alliance lifted its stake in shares of Intel by 9.7% in the third quarter. Wealth Alliance now owns 16,308 shares of the chip maker’s stock valued at $844,000 after buying an additional 1,439 shares during the period. OLD Mission Capital LLC acquired a new position in Intel in the third quarter worth about $727,000. IHT Wealth Management LLC raised its position in Intel by 19.1% in the third quarter. IHT Wealth Management LLC now owns 27,639 shares of the chip maker’s stock worth $1,431,000 after purchasing an additional 4,432 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Intel by 12.7% in the third quarter. Kingsview Wealth Management LLC now owns 79,297 shares of the chip maker’s stock worth $4,106,000 after purchasing an additional 8,906 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.
Several research analysts recently issued reports on the stock. UBS Group set a $71.00 price target on shares of Intel and gave the stock a “buy” rating in a research report on Tuesday, January 19th. Barclays increased their price target on shares of Intel from $50.00 to $53.00 and gave the stock an “underweight” rating in a research report on Friday, January 22nd. Mizuho raised their price objective on shares of Intel from $70.00 to $72.00 in a report on Wednesday, March 24th. Wells Fargo & Company raised their price objective on shares of Intel from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 30th. Finally, Truist Securities raised their price objective on shares of Intel from $64.00 to $73.00 in a report on Wednesday, March 24th. Twelve analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $63.64.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, January 20th. The chip maker reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.42. The company had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $17.47 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. During the same period in the prior year, the company posted $1.52 earnings per share. On average, equities analysts expect that Intel Co. will post 4.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 7th will be paid a dividend of $0.3475 per share. This represents a $1.39 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, May 6th. Intel’s dividend payout ratio is presently 28.54%.
In other Intel news, CFO George S. Davis acquired 9,095 shares of the company’s stock in a transaction on Tuesday, January 26th. The shares were purchased at an average cost of $55.34 per share, with a total value of $503,317.30. Following the completion of the purchase, the chief financial officer now owns 71,223 shares of the company’s stock, valued at $3,941,480.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Holmes Swan acquired 27,244 shares of the company’s stock in a transaction on Monday, January 25th. The stock was acquired at an average cost of $55.57 per share, for a total transaction of $1,513,949.08. Following the completion of the purchase, the chief executive officer now directly owns 330,774 shares of the company’s stock, valued at approximately $18,381,111.18. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses 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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