Canada Pension Plan Investment Board reduced its stake in Intel Co. (NASDAQ:INTC) by 68.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,004,993 shares of the chip maker’s stock after selling 2,163,397 shares during the period. Canada Pension Plan Investment Board’s holdings in Intel were worth $47,526,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Intel by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 51,466,042 shares of the chip maker’s stock worth $2,558,294,000 after buying an additional 559,856 shares during the period. LSV Asset Management lifted its position in Intel by 0.7% during the third quarter. LSV Asset Management now owns 25,251,096 shares of the chip maker’s stock worth $1,194,124,000 after buying an additional 186,641 shares during the period. Fisher Asset Management LLC lifted its position in Intel by 3.1% during the third quarter. Fisher Asset Management LLC now owns 24,155,799 shares of the chip maker’s stock worth $1,142,328,000 after buying an additional 720,022 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Intel by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,077,912 shares of the chip maker’s stock worth $760,324,000 after buying an additional 363,376 shares during the period. Finally, Swiss National Bank lifted its position in Intel by 3.1% during the second quarter. Swiss National Bank now owns 15,473,602 shares of the chip maker’s stock worth $769,193,000 after buying an additional 458,600 shares during the period. Institutional investors and hedge funds own 64.07% of the company’s stock.
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A number of equities analysts have recently commented on INTC shares. Northland Securities restated a “sell” rating and issued a $38.00 price objective on shares of Intel in a report on Tuesday. Zacks Investment Research downgraded Intel from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Macquarie set a $58.00 target price on Intel and gave the company a “buy” rating in a research note on Monday, November 19th. BNP Paribas set a $53.00 target price on Intel and gave the company a “neutral” rating in a research note on Tuesday, December 4th. Finally, BidaskClub upgraded Intel from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.33.
Shares of INTC opened at $53.24 on Thursday. The company has a market capitalization of $245.56 billion, a PE ratio of 11.62, a PEG ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 0.34. Intel Co. has a 52 week low of $42.36 and a 52 week high of $57.60.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $18.66 billion during the quarter, compared to analyst estimates of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Equities analysts expect that Intel Co. will post 4.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be given a $0.315 dividend. This is a positive change from Intel’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.37%. Intel’s dividend payout ratio (DPR) is presently 27.51%.
Intel declared that its Board of Directors has approved a stock repurchase program on Thursday, November 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other news, CEO Robert Holmes Swan bought 5,263 shares of the firm’s stock in a transaction dated Thursday, December 6th. The stock was bought at an average price of $46.74 per share, for a total transaction of $245,992.62. Following the transaction, the chief executive officer now owns 137,102 shares in the company, valued at $6,408,147.48. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 1,518 shares of Intel stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $46.11, for a total value of $69,994.98. Following the completion of the transaction, the executive vice president now owns 52,419 shares of the company’s stock, valued at approximately $2,417,040.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,784 shares of company stock valued at $2,287,569. Insiders own 0.03% of the company’s stock.
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Intel Company Profile
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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