Hexavest Inc. Increases Stake in Intel Co. (NASDAQ:INTC)

Hexavest Inc. boosted its position in shares of Intel Co. (NASDAQ:INTC) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,851,474 shares of the chip maker’s stock after buying an additional 309,048 shares during the quarter. Intel makes up 1.4% of Hexavest Inc.’s holdings, making the stock its 12th biggest position. Hexavest Inc.’s holdings in Intel were worth $110,811,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in INTC. Intercontinental Wealth Advisors LLC raised its stake in Intel by 83.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after purchasing an additional 450 shares during the period. Lenox Wealth Advisors LLC raised its stake in shares of 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 during the period. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Intel in the 3rd quarter valued at approximately $62,000. Bourgeon Capital Management LLC purchased a new stake in shares of Intel in the 3rd quarter valued at approximately $62,000. Finally, Country Trust Bank raised its stake in shares of Intel by 60.3% in the 4th quarter. Country Trust Bank now owns 1,095 shares of the chip maker’s stock valued at $66,000 after acquiring an additional 412 shares during the period. Institutional investors own 65.28% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Northland Securities reaffirmed a “buy” rating and set a $69.00 target price on shares of Intel in a research note on Tuesday, November 5th. Goldman Sachs Group reiterated a “sell” rating and issued a $48.00 price target on shares of Intel in a report on Friday, October 25th. Mizuho raised their target price on shares of Intel from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird raised their target price on shares of Intel from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities restated a “sell” rating on shares of Intel in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $56.66.

Intel stock traded up $0.40 during mid-day trading on Thursday, hitting $59.34. The stock had a trading volume of 4,505,691 shares, compared to its average volume of 17,160,516. 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 firm has a market capitalization of $258.52 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.68 and a beta of 0.91. The firm’s 50 day moving average is $58.52 and its 200 day moving average is $53.05. Intel Co. has a one year low of $42.86 and a one year high of $60.97.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.18. The business had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.07 billion. Intel had a net margin of 27.46% and a return on equity of 28.28%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. As a group, equities research analysts forecast that Intel Co. will post 4.61 earnings per share for the current year.

Intel announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

In other Intel news, VP Jennifer Balliet sold 6,833 shares of Intel stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $24.25, for a total transaction of $165,700.25. Also, Director Frank D. Yeary sold 12,545 shares of Intel stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $60.35, for a total transaction of $757,090.75. The disclosure for this sale can be found here. Insiders have sold 81,284 shares of company stock worth $4,517,194 over the last ninety days. 0.02% of the stock is owned by insiders.

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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