Cullinan Associates Inc. Increases Stake in Intel Co. (NASDAQ:INTC)

Cullinan Associates Inc. lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 350,832 shares of the chip maker’s stock after purchasing an additional 13,484 shares during the period. Intel accounts for about 1.3% of Cullinan Associates Inc.’s portfolio, making the stock its 9th largest position. Cullinan Associates Inc.’s holdings in Intel were worth $22,453,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in INTC. Violich Capital Management Inc. lifted its stake in shares of Intel by 4.1% during the fourth quarter. Violich Capital Management Inc. now owns 180,000 shares of the chip maker’s stock valued at $8,968,000 after acquiring an additional 7,130 shares during the period. Greenleaf Trust lifted its stake in shares of Intel by 1.1% during the fourth quarter. Greenleaf Trust now owns 99,249 shares of the chip maker’s stock valued at $4,945,000 after acquiring an additional 1,051 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Intel by 124.5% during the first quarter. International Assets Investment Management LLC now owns 62,365 shares of the chip maker’s stock valued at $3,597,000 after acquiring an additional 34,584 shares during the period. Bouvel Investment Partners LLC acquired a new position in shares of Intel during the fourth quarter valued at $1,958,000. Finally, M. Kulyk & Associates LLC acquired a new position in shares of Intel during the fourth quarter valued at $3,104,000. Institutional investors own 63.25% of the company’s stock.

INTC has been the topic of several research reports. Zacks Investment Research lowered Intel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, March 25th. Raymond James reissued an “underperform” rating on shares of Intel in a research note on Wednesday. Mizuho increased their target price on Intel from $70.00 to $72.00 in a research note on Wednesday, March 24th. Morgan Stanley increased their target price on Intel from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 22nd. Finally, Sanford C. Bernstein set a $43.00 target price on Intel and gave the company a “sell” rating in a research note on Wednesday, March 24th. Twelve investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.64.

Shares of INTC stock traded down $0.67 during trading on Thursday, reaching $63.03. 600,210 shares of the company’s stock were exchanged, compared to its average volume of 34,896,004. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $256.68 billion, a PE ratio of 12.49, a PEG ratio of 1.63 and a beta of 0.74. Intel Co. has a twelve month low of $43.61 and a twelve month high of $68.49. The firm’s fifty day moving average price is $63.93 and its 200-day moving average price is $55.13.

Intel (NASDAQ:INTC) last posted its earnings results on Wednesday, January 20th. The chip maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.42. The business had revenue of $19.98 billion for the quarter, compared to analyst estimates of $17.47 billion. Intel had a return on equity of 29.44% and a net margin of 28.10%. During the same period in the previous year, the firm earned $1.52 EPS. As a group, analysts anticipate that Intel Co. will post 4.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 7th will be issued a dividend of $0.3475 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, May 6th. Intel’s payout ratio is presently 28.54%.

In other news, CFO George S. Davis purchased 9,095 shares of Intel stock in a transaction that occurred on Tuesday, January 26th. The stock was acquired at an average cost of $55.34 per share, for a total transaction of $503,317.30. Following the purchase, the chief financial officer now directly owns 71,223 shares of the company’s stock, valued at approximately $3,941,480.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Holmes Swan purchased 27,244 shares of Intel stock in a transaction that occurred on Monday, January 25th. The stock was purchased at an average price of $55.57 per share, with a total value of $1,513,949.08. Following the completion of the purchase, the chief executive officer now directly owns 330,774 shares in the company, valued at $18,381,111.18. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Company Profile

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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