Fayerweather Charles lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,193 shares of the chip maker’s stock after selling 1,065 shares during the quarter. Intel makes up approximately 2.1% of Fayerweather Charles’ holdings, making the stock its 20th largest position. Fayerweather Charles’ holdings in Intel were worth $1,302,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Meyer Handelman Co. raised its stake in Intel by 0.4% during the 2nd quarter. Meyer Handelman Co. now owns 644,678 shares of the chip maker’s stock valued at $32,047,000 after acquiring an additional 2,419 shares in the last quarter. Torch Wealth Management LLC raised its stake in Intel by 11.3% during the 2nd quarter. Torch Wealth Management LLC now owns 14,500 shares of the chip maker’s stock valued at $721,000 after acquiring an additional 1,475 shares in the last quarter. Watch Point Trust Co raised its stake in Intel by 3.9% during the 2nd quarter. Watch Point Trust Co now owns 78,220 shares of the chip maker’s stock valued at $3,888,000 after acquiring an additional 2,970 shares in the last quarter. RB Capital Management LLC raised its stake in Intel by 8.3% during the 2nd quarter. RB Capital Management LLC now owns 28,783 shares of the chip maker’s stock valued at $1,431,000 after acquiring an additional 2,211 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. raised its stake in Intel by 6.8% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 247,194 shares of the chip maker’s stock valued at $12,287,000 after acquiring an additional 15,739 shares in the last quarter. Institutional investors and hedge funds own 65.37% of the company’s stock.
In other Intel news, CEO Robert Holmes Swan purchased 5,243 shares of the stock in a transaction dated Monday, July 30th. The shares were acquired at an average price of $47.69 per share, for a total transaction of $250,038.67. Following the completion of the acquisition, the chief executive officer now owns 71,672 shares of the company’s stock, valued at approximately $3,418,037.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Ralph Rodgers sold 2,213 shares of Intel stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $52.43, for a total value of $116,027.59. Following the transaction, the executive vice president now owns 23,268 shares in the company, valued at approximately $1,219,941.24. The disclosure for this sale can be found here. Insiders have sold 4,077 shares of company stock worth $205,757 over the last ninety days. 0.03% of the stock is owned by insiders.
Shares of Intel stock opened at $44.88 on Friday. The firm has a market cap of $221.24 billion, a PE ratio of 12.97, a P/E/G ratio of 1.35 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. Intel Co. has a 12-month low of $39.28 and a 12-month high of $57.60.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. Intel had a return on equity of 27.33% and a net margin of 20.07%. Intel’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities research analysts predict that Intel Co. will post 4.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
Several analysts have weighed in on INTC shares. Northland Securities downgraded Intel from a “market perform” rating to an “underperform” rating in a research note on Monday, June 18th. Stifel Nicolaus boosted their price objective on Intel from $57.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, June 21st. Wells Fargo & Co reissued a “buy” rating and issued a $65.00 price objective on shares of Intel in a research note on Thursday, June 21st. Sanford C. Bernstein reissued a “neutral” rating and issued a $54.00 price objective on shares of Intel in a research note on Thursday, June 21st. Finally, Needham & Company LLC dropped their price objective on Intel from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 22nd. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company. Intel currently has an average rating of “Hold” and an average price target of $55.08.
Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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