Cigna Investments Inc. New Sells 4,225 Shares of Intel Co. (NASDAQ:INTC)

Cigna Investments Inc. New trimmed its stake in Intel Co. (NASDAQ:INTC) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,823 shares of the chip maker’s stock after selling 4,225 shares during the period. Intel accounts for 1.1% of Cigna Investments Inc. New’s portfolio, making the stock its 13th largest position. Cigna Investments Inc. New’s holdings in Intel were worth $8,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sompo Japan Nipponkoa Asset Management CO. LTD. raised its position in shares of Intel by 21.3% in the 1st quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 78,740 shares of the chip maker’s stock worth $4,261,000 after acquiring an additional 13,830 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Intel by 7.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,638 shares of the chip maker’s stock worth $3,715,000 after acquiring an additional 4,619 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its position in shares of Intel by 0.6% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 80,451 shares of the chip maker’s stock worth $4,354,000 after acquiring an additional 465 shares in the last quarter. MainStreet Investment Advisors LLC raised its position in shares of Intel by 16.9% in the 1st quarter. MainStreet Investment Advisors LLC now owns 174,465 shares of the chip maker’s stock worth $9,442,000 after acquiring an additional 25,214 shares in the last quarter. Finally, Banco Santander S.A. grew its stake in Intel by 545.2% during the 1st quarter. Banco Santander S.A. now owns 2,182,274 shares of the chip maker’s stock worth $118,105,000 after buying an additional 1,844,024 shares during the last quarter. 66.27% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Navin Shenoy sold 2,848 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $58.83, for a total value of $167,547.84. Following the completion of the transaction, the executive vice president now owns 77,709 shares of the company’s stock, valued at approximately $4,571,620.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.67, for a total value of $2,823,824.48. Following the completion of the transaction, the insider now directly owns 126,240 shares of the company’s stock, valued at approximately $7,658,980.80. The disclosure for this sale can be found here. Insiders sold a total of 118,470 shares of company stock valued at $7,005,231 in the last ninety days. 0.04% of the stock is currently owned by insiders.

Several brokerages recently weighed in on INTC. Wells Fargo & Co boosted their target price on Intel from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. BNP Paribas upgraded Intel from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, March 24th. Jefferies Financial Group boosted their target price on Intel from $53.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Morgan Stanley dropped their target price on Intel from $69.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, ThinkEquity assumed coverage on Intel in a research note on Monday, March 16th. They set a “buy” rating on the stock. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $64.97.

NASDAQ INTC traded up $0.28 during trading hours on Friday, reaching $62.26. The company’s stock had a trading volume of 14,094,915 shares, compared to its average volume of 23,267,182. The firm has a market capitalization of $262.42 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.72 and a beta of 0.82. Intel Co. has a 1-year low of $42.86 and a 1-year high of $69.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.35. The company’s 50-day moving average is $58.58 and its two-hundred day moving average is $58.78.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, April 23rd. The chip maker reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. The company had revenue of $19.83 billion during the quarter, compared to analysts’ expectations of $18.65 billion. Intel had a return on equity of 31.64% and a net margin of 30.02%. Intel’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. Equities analysts forecast that Intel Co. will post 4.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.12%. Intel’s payout ratio is 27.10%.

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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