Westchester Capital Management Inc. Purchases 495 Shares of Intel Co. (NASDAQ:INTC)

Westchester Capital Management Inc. boosted its position in Intel Co. (NASDAQ:INTC) by 0.2% during the 3rd quarter, Holdings Channel reports. The fund owned 242,253 shares of the chip maker’s stock after acquiring an additional 495 shares during the quarter. Intel makes up 4.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 4th biggest holding. Westchester Capital Management Inc.’s holdings in Intel were worth $12,483,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of INTC. Watch Point Trust Co raised its holdings in Intel by 2.9% during the third quarter. Watch Point Trust Co now owns 98,562 shares of the chip maker’s stock worth $5,079,000 after purchasing an additional 2,791 shares in the last quarter. Doliver Advisors LP raised its holdings in Intel by 4.7% during the third quarter. Doliver Advisors LP now owns 13,760 shares of the chip maker’s stock worth $724,000 after purchasing an additional 617 shares in the last quarter. Private Ocean LLC raised its holdings in Intel by 13.8% during the third quarter. Private Ocean LLC now owns 1,650 shares of the chip maker’s stock worth $86,000 after purchasing an additional 200 shares in the last quarter. Karp Capital Management Corp raised its holdings in Intel by 2.8% during the third quarter. Karp Capital Management Corp now owns 48,035 shares of the chip maker’s stock worth $2,475,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new stake in Intel during the third quarter worth approximately $62,000. 67.21% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO George S. Davis bought 5,458 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $45.70 per share, with a total value of $249,430.60. Following the purchase, the chief financial officer now owns 13,276 shares of the company’s stock, valued at approximately $606,713.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Holmes Swan bought 10,918 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $45.70 per share, with a total value of $498,952.60. Following the purchase, the chief executive officer now directly owns 168,955 shares in the company, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. Insiders sold a total of 17,482 shares of company stock valued at $911,044 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on INTC. KeyCorp restated a “hold” rating on shares of Intel in a research report on Friday, October 25th. ValuEngine lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group set a $40.00 target price on shares of Intel and gave the stock a “sell” rating in a research report on Friday, July 26th. BidaskClub upgraded shares of Intel from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Cowen raised their target price on shares of Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $55.81.

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NASDAQ:INTC traded up $0.22 during midday trading on Friday, reaching $58.27. The stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The stock has a market cap of $250.34 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.93. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. Intel Co. has a 12-month low of $42.86 and a 12-month high of $59.59. The firm has a fifty day simple moving average of $52.89 and a two-hundred day simple moving average of $49.43.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The firm had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.07 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that Intel Co. will post 4.61 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the chip maker to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently announced a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a $0.315 dividend. This represents a yield of 2.4%. The ex-dividend date is Wednesday, November 6th. Intel’s payout ratio is 27.51%.

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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