Intel (INTC) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC trimmed its holdings in shares of Intel (NASDAQ:INTC) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,058,722 shares of the chip maker’s stock after selling 4,765 shares during the period. Intel makes up 2.2% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Sawgrass Asset Management LLC’s holdings in Intel were worth $48,871,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. AlphaStar Capital Management LLC bought a new position in shares of Intel during the 4th quarter worth approximately $441,000. State of Tennessee Treasury Department boosted its holdings in shares of Intel by 57.2% during the 4th quarter. State of Tennessee Treasury Department now owns 2,807,388 shares of the chip maker’s stock worth $129,590,000 after buying an additional 1,021,991 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Intel by 8.2% during the 4th quarter. First Republic Investment Management Inc. now owns 3,018,093 shares of the chip maker’s stock worth $139,315,000 after buying an additional 229,705 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of Intel by 8.7% in the 4th quarter. Mission Wealth Management LP now owns 49,437 shares of the chip maker’s stock worth $2,282,000 after purchasing an additional 3,958 shares in the last quarter. Finally, Alexandria Capital LLC lifted its holdings in shares of Intel by 78.5% in the 4th quarter. Alexandria Capital LLC now owns 214,256 shares of the chip maker’s stock worth $9,890,000 after purchasing an additional 94,194 shares in the last quarter. Hedge funds and other institutional investors own 67.02% of the company’s stock.

In related news, EVP Navin Shenoy sold 498 shares of Intel stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $52.31, for a total value of $26,050.38. Following the completion of the sale, the executive vice president now owns 30,502 shares of the company’s stock, valued at approximately $1,595,559.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian M. Krzanich sold 6,746 shares of Intel stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $52.52, for a total value of $354,299.92. Following the completion of the sale, the chief executive officer now directly owns 264,084 shares of the company’s stock, valued at approximately $13,869,691.68. The disclosure for this sale can be found here. In the last three months, insiders sold 96,615 shares of company stock valued at $4,753,757. 0.03% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on INTC. BNP Paribas reiterated a “neutral” rating and issued a $54.00 target price on shares of Intel in a report on Monday, May 14th. Cowen began coverage on Intel in a report on Thursday, May 17th. They issued a “market perform” rating and a $55.00 target price on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $65.00 target price on shares of Intel in a report on Friday, May 18th. Macquarie reiterated a “buy” rating and issued a $64.00 target price on shares of Intel in a report on Friday, May 18th. Finally, Barclays increased their target price on Intel from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Intel has an average rating of “Buy” and an average price target of $55.43.

Shares of INTC opened at $54.75 on Friday. Intel has a fifty-two week low of $33.23 and a fifty-two week high of $55.79. The stock has a market capitalization of $258.29 billion, a P/E ratio of 15.00, a PEG ratio of 1.71 and a beta of 0.94. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 26th. The chip maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.15. Intel had a return on equity of 25.41% and a net margin of 17.32%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. sell-side analysts expect that Intel will post 3.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, May 4th. Intel’s dividend payout ratio (DPR) is currently 34.68%.

About Intel

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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