Edgestream Partners L.P. increased its stake in Intel Co. (NASDAQ:INTC – Get Rating) by 358.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,944 shares of the chip maker’s stock after buying an additional 24,979 shares during the quarter. Edgestream Partners L.P.’s holdings in Intel were worth $1,195,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Intel by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 349,634,956 shares of the chip maker’s stock valued at $17,327,909,000 after acquiring an additional 5,076,202 shares during the period. BlackRock Inc. raised its stake in Intel by 3.0% in the 1st quarter. BlackRock Inc. now owns 341,450,251 shares of the chip maker’s stock valued at $16,922,274,000 after acquiring an additional 10,103,061 shares during the period. State Street Corp raised its stake in Intel by 1.1% in the 1st quarter. State Street Corp now owns 178,991,617 shares of the chip maker’s stock valued at $8,870,825,000 after acquiring an additional 1,874,534 shares during the period. Primecap Management Co. CA raised its stake in Intel by 12.4% in the 2nd quarter. Primecap Management Co. CA now owns 48,598,246 shares of the chip maker’s stock valued at $1,818,060,000 after acquiring an additional 5,344,285 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Intel by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 41,877,503 shares of the chip maker’s stock valued at $2,075,449,000 after acquiring an additional 1,627,363 shares during the period. Institutional investors and hedge funds own 61.52% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Cowen assumed coverage on Intel in a research note on Monday. They issued a “market perform” rating and a $31.00 price target on the stock. HSBC began coverage on Intel in a research report on Monday, October 24th. They set a “reduce” rating and a $23.00 price objective on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $28.00 price objective on shares of Intel in a research report on Wednesday, November 16th. StockNews.com began coverage on Intel in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Bank of America lowered their price objective on Intel from $30.00 to $28.00 and set an “underperform” rating on the stock in a research report on Friday, October 28th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.67.
Intel Stock Performance
Shares of INTC stock opened at $29.67 on Friday. The business’s 50-day moving average price is $27.78 and its 200-day moving average price is $34.27. Intel Co. has a 12 month low of $24.59 and a 12 month high of $56.28. The firm has a market capitalization of $122.45 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.03 and a beta of 0.73. The company has a current ratio of 1.77, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37.
Intel Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Friday, November 4th. Intel’s payout ratio is 44.92%.
Insider Activity
In related news, Director Lip Bu Tan acquired 1,854 shares of the stock in a transaction dated Friday, November 4th. The stock was bought at an average cost of $27.49 per share, for a total transaction of $50,966.46. Following the completion of the transaction, the director now directly owns 2,354 shares of the company’s stock, valued at $64,711.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lip Bu Tan acquired 1,854 shares of the stock in a transaction dated Friday, November 4th. The stock was bought at an average cost of $27.49 per share, for a total transaction of $50,966.46. Following the completion of the transaction, the director now directly owns 2,354 shares of the company’s stock, valued at $64,711.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 8,830 shares of the stock in a transaction dated Monday, October 31st. The shares were bought at an average price of $28.16 per share, with a total value of $248,652.80. Following the completion of the transaction, the chief executive officer now directly owns 96,049 shares of the company’s stock, valued at $2,704,739.84. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 58,830 shares of company stock valued at $1,646,744. 0.02% of the stock is currently owned by corporate insiders.
About Intel
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, 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, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
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