Intact Investment Management Inc. Trims Holdings in Intel Co. (INTC)

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Intact Investment Management Inc. lessened its position in Intel Co. (NASDAQ:INTC) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 285,300 shares of the chip maker’s stock after selling 3,700 shares during the period. Intact Investment Management Inc.’s holdings in Intel were worth $13,395,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Tortoise Investment Management LLC lifted its holdings in shares of Intel by 86.7% in the third quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock valued at $59,000 after purchasing an additional 580 shares in the last quarter. Mackey Komara & Dankovich LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $84,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Intel by 375.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock valued at $120,000 after purchasing an additional 2,000 shares in the last quarter. Fusion Family Wealth LLC lifted its holdings in shares of Intel by 118.2% in the fourth quarter. Fusion Family Wealth LLC now owns 2,575 shares of the chip maker’s stock valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Highwater Wealth Management LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $125,000. 64.69% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, March 27th. Sanford C. Bernstein reiterated a “sell” rating and set a $42.00 price target on shares of Intel in a report on Wednesday, April 3rd. Evercore ISI dropped their price target on Intel from $54.00 to $50.00 and set a “positive” rating on the stock in a report on Monday, January 14th. Nomura began coverage on Intel in a report on Tuesday, April 2nd. They set a “buy” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Co lowered Intel from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $55.00 to $60.00 in a report on Friday, April 5th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Intel has an average rating of “Hold” and an average price target of $55.10.

In other news, EVP Navin Shenoy sold 1,518 shares of Intel stock in a transaction 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 directly owns 52,419 shares in the company, valued at $2,417,040.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Andy D. Bryant sold 11,734 shares of Intel stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $53.03, for a total value of $622,254.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,431 shares of company stock worth $3,500,497. Corporate insiders own 0.03% of the company’s stock.

Shares of INTC opened at $56.42 on Monday. The firm has a market capitalization of $261.05 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.30 and a current ratio of 1.73. Intel Co. has a 1 year low of $42.36 and a 1 year high of $57.60.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.06. The firm had revenue of $18.66 billion for 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 period in the previous year, the company posted $1.08 earnings per share. Research analysts anticipate that Intel Co. will post 4.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.23%. Intel’s payout ratio is presently 27.51%.

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Intel 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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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