Somerville Kurt F reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 253,218 shares of the chip maker’s stock after selling 9,055 shares during the quarter. Intel comprises 2.8% of Somerville Kurt F’s portfolio, making the stock its 15th biggest position. Somerville Kurt F’s holdings in Intel were worth $15,157,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in INTC. Tower View Investment Management & Research LLC bought a new stake in shares of Intel during the fourth quarter worth $31,000. Corbenic Partners LLC acquired a new stake in shares of Intel during the fourth quarter worth $41,000. Intercontinental Wealth Advisors LLC lifted its position in Intel by 83.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after acquiring an additional 450 shares in the last quarter. Lenox Wealth Advisors LLC lifted its position in Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after acquiring an additional 540 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC acquired a new position in Intel in the 3rd quarter worth $62,000. 65.28% of the stock is owned by institutional investors.
NASDAQ INTC opened at $58.94 on Thursday. Intel Co. has a 12 month low of $42.86 and a 12 month high of $60.97. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $58.52 and a 200-day moving average of $53.05. The company has a market cap of $258.52 billion, a PE ratio of 12.87, a PEG ratio of 1.68 and a beta of 0.91.
Intel declared that its board has authorized a share repurchase program on Thursday, October 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
INTC has been the subject of a number of research reports. BMO Capital Markets increased their target price on Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. set a $68.00 price target on Intel and gave the company an “overweight” rating in a report on Friday, October 25th. SunTrust Banks upped their price objective on Intel from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Loop Capital set a $50.00 price objective on Intel and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Bank of America lifted their target price on Intel from $65.00 to $70.00 and gave the company a “positive” rating in a research report on Monday, December 2nd. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Intel presently has an average rating of “Hold” and an average price target of $56.66.
In other news, Director Frank D. Yeary sold 12,545 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $60.35, for a total value of $757,090.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Andy D. Bryant sold 46,932 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $58.24, for a total value of $2,733,319.68. Following the completion of the sale, the chairman now directly owns 425,491 shares of the company’s stock, valued at $24,780,595.84. The disclosure for this sale can be found here. In the last three months, insiders sold 81,284 shares of company stock valued at $4,517,194. Insiders own 0.02% of the company’s stock.
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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