Harbour Investment Management LLC Takes $3.10 Million Position in Intel Co. (NASDAQ:INTC)

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Harbour Investment Management LLC acquired a new stake in shares of Intel Co. (NASDAQ:INTC) in the third quarter, HoldingsChannel reports. The firm acquired 59,886 shares of the chip maker’s stock, valued at approximately $3,101,000. Intel accounts for approximately 1.9% of Harbour Investment Management LLC’s holdings, making the stock its 17th biggest holding.

Several other institutional investors have also recently modified their holdings of INTC. Morgan Stanley grew its position in shares of Intel by 3.8% during the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock valued at $1,645,971,000 after purchasing an additional 1,108,810 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Intel in the first quarter worth about $394,000. Modus Advisors LLC purchased a new position in Intel in the second quarter worth about $25,000. Thomasville National Bank grew its position in Intel by 4.8% in the second quarter. Thomasville National Bank now owns 212,804 shares of the chip maker’s stock worth $12,732,000 after acquiring an additional 9,685 shares in the last quarter. Finally, Park National Corp OH grew its position in Intel by 0.3% in the second quarter. Park National Corp OH now owns 844,848 shares of the chip maker’s stock worth $50,547,000 after acquiring an additional 2,904 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Several research analysts recently commented on INTC shares. Sanford C. Bernstein reiterated a “sell” rating and issued a $45.00 price target on shares of Intel in a research report on Tuesday, October 20th. Morgan Stanley dropped their price target on Intel from $61.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday. Rosenblatt Securities restated a “sell” rating and set a $40.00 target price (down previously from $45.00) on shares of Intel in a research report on Friday. BMO Capital Markets dropped their target price on Intel from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Friday, July 24th. Finally, Cowen dropped their target price on Intel from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Friday. Thirteen equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Intel has an average rating of “Hold” and a consensus target price of $57.97.

Shares of INTC stock traded down $5.70 during trading hours on Friday, reaching $48.20. 97,322,490 shares of the company’s stock were exchanged, compared to its average volume of 30,077,471. The stock’s 50 day moving average is $51.27 and its 200-day moving average is $55.53. The company has a market cap of $204.99 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.50 and a beta of 0.72. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. Intel Co. has a fifty-two week low of $43.63 and a fifty-two week high of $69.29.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The business had revenue of $18.33 billion for the quarter, compared to the consensus estimate of $18.26 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 earnings per share. Equities analysts anticipate that Intel Co. will post 4.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, November 6th. Intel’s payout ratio is presently 27.10%.

In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $49.28, for a total transaction of $216,832.00. Following the sale, the vice president now directly owns 14,214 shares of the company’s stock, valued at $700,465.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $48.18, for a total transaction of $137,168.46. Following the sale, the executive vice president now directly owns 71,807 shares in the company, valued at $3,459,661.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,491 shares of company stock worth $365,878. Insiders own 0.04% of the company’s stock.

Intel Company Profile

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices 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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