Ashmore Wealth Management LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,710,117 shares of the chip maker’s stock after selling 49,177 shares during the period. Intel comprises approximately 7.9% of Ashmore Wealth Management LLC’s investment portfolio, making the stock its 4th largest position. Ashmore Wealth Management LLC owned 0.08% of Intel worth $134,566,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in INTC. Wilkins Investment Counsel Inc. increased its position in shares of Intel by 3.4% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 298,717 shares of the chip maker’s stock worth $10,834,000 after buying an additional 9,740 shares in the last quarter. Elkfork Partners LLC purchased a new stake in shares of Intel during the fourth quarter worth approximately $81,579,000. Marshall Wace LLP purchased a new stake in shares of Intel during the fourth quarter worth approximately $3,875,000. Frontier Wealth Management LLC raised its stake in shares of Intel by 20.4% in the fourth quarter. Frontier Wealth Management LLC now owns 96,009 shares of the chip maker’s stock worth $3,482,000 after buying an additional 16,279 shares during the last quarter. Finally, LBA Wealth Management LLC raised its stake in shares of Intel by 0.6% in the fourth quarter. LBA Wealth Management LLC now owns 43,484 shares of the chip maker’s stock worth $1,577,000 after buying an additional 254 shares during the last quarter. 65.90% of the stock is currently owned by institutional investors.
Intel Co. (NASDAQ:INTC) opened at 35.43 on Tuesday. The stock has a market cap of $167.51 billion, a P/E ratio of 16.71 and a beta of 1.03. The company has a 50-day moving average price of $36.08 and a 200 day moving average price of $36.14. Intel Co. has a 1-year low of $29.50 and a 1-year high of $38.45.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 26th. The chip maker reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Intel had a net margin of 17.37% and a return on equity of 20.95%. The firm earned $16.40 billion during the quarter, compared to analyst estimates of $15.75 billion. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. Equities analysts expect that Intel Co. will post $2.80 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.94%. Intel’s payout ratio is 49.29%.
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A number of brokerages recently commented on INTC. Canaccord Genuity reaffirmed a “hold” rating and issued a $38.00 target price on shares of Intel in a research report on Thursday, March 16th. Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Intel in a research report on Wednesday, March 15th. Credit Suisse Group AG lowered Intel from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $35.00 in a research report on Wednesday, March 15th. Loop Capital reaffirmed a “buy” rating and issued a $42.00 target price on shares of Intel in a research report on Wednesday, March 15th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, March 15th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intel has an average rating of “Hold” and an average target price of $39.99.
In other news, CEO Brian M. Krzanich sold 79,051 shares of Intel stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $36.49, for a total transaction of $2,884,570.99. Following the completion of the transaction, the chief executive officer now directly owns 394,406 shares in the company, valued at $14,391,874.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane M. Bryant sold 2,766 shares of Intel stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $37.59, for a total transaction of $103,973.94. Following the transaction, the executive vice president now owns 106,566 shares of the company’s stock, valued at $4,005,815.94. The disclosure for this sale can be found here. Insiders have sold 273,023 shares of company stock valued at $9,898,612 over the last quarter. Company insiders own 0.09% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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