Cigna Investments Inc. New decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 153,823 shares of the chip maker’s stock after selling 4,225 shares during the quarter. Intel comprises approximately 1.1% of Cigna Investments Inc. New’s investment portfolio, making the stock its 13th largest holding. Cigna Investments Inc. New’s holdings in Intel were worth $8,325,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lion Street Advisors LLC acquired a new stake in Intel in the 1st quarter valued at $29,000. Evolution Wealth Advisors LLC grew its position in Intel by 1,636.1% in the 4th quarter. Evolution Wealth Advisors LLC now owns 625 shares of the chip maker’s stock valued at $37,000 after purchasing an additional 589 shares during the period. Clear Investment Research LLC grew its position in Intel by 6,500.0% in the 4th quarter. Clear Investment Research LLC now owns 726 shares of the chip maker’s stock valued at $43,000 after purchasing an additional 715 shares during the period. Sailer Financial LLC acquired a new stake in Intel in the 4th quarter valued at $43,000. Finally, ICW Investment Advisors LLC acquired a new stake in Intel in the 4th quarter valued at $48,000. 66.27% of the stock is owned by institutional investors and hedge funds.
INTC stock traded up $0.28 during mid-day trading on Friday, reaching $62.26. 14,094,915 shares of the company traded hands, compared to its average volume of 23,267,182. 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 has a market capitalization of $262.42 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.72 and a beta of 0.82. Intel Co. has a 52-week low of $42.86 and a 52-week high of $69.29. The company has a fifty day moving average price of $58.58 and a 200-day moving average price of $58.78.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 23rd. The chip maker reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.17. The company had revenue of $19.83 billion during the quarter, compared to analyst estimates of $18.65 billion. Intel had a return on equity of 31.64% and a net margin of 30.02%. Intel’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, analysts forecast that Intel Co. will post 4.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 7th will be paid 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 dividend yield of 2.12%. Intel’s dividend payout ratio is currently 27.10%.
In other news, EVP Navin Shenoy sold 2,848 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $58.83, for a total value of $167,547.84. Following the sale, the executive vice president now directly owns 77,709 shares of the company’s stock, valued at $4,571,620.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of the stock in a transaction on 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 sale, the insider now directly owns 126,240 shares in the company, valued at $7,658,980.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,470 shares of company stock worth $7,005,231. Insiders own 0.04% of the company’s stock.
INTC has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Intel from $53.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Nomura reaffirmed a “buy” rating and set a $74.00 price objective on shares of Intel in a report on Sunday, April 26th. Raymond James raised shares of Intel from an “underperform” rating to a “market perform” rating and set a $75.00 price objective on the stock in a report on Monday, April 6th. Morgan Stanley cut their price objective on shares of Intel from $69.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Finally, Cowen cut their price objective on shares of Intel from $64.00 to $60.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $64.97.
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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