Bowling Portfolio Management LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,071 shares of the chip maker’s stock after selling 10,926 shares during the period. Intel makes up about 1.1% of Bowling Portfolio Management LLC’s portfolio, making the stock its 5th largest position. Bowling Portfolio Management LLC’s holdings in Intel were worth $7,758,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. purchased a new stake in shares of Intel in the first quarter valued at about $110,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Intel in the first quarter valued at about $120,000. WP Advisors LLC purchased a new stake in shares of Intel in the second quarter valued at about $137,000. Well Done LLC purchased a new stake in shares of Intel in the first quarter valued at about $156,000. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Intel in the first quarter valued at about $187,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
Shares of NASDAQ:INTC opened at $47.97 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13. The stock has a market cap of $220.40 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. Intel Co. has a twelve month low of $42.04 and a twelve month high of $57.60.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. The firm had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. Analysts predict that Intel Co. will post 4.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.50%. Intel’s dividend payout ratio (DPR) is currently 34.68%.
In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the transaction, the executive vice president now directly owns 30,324 shares in the company, valued at $1,384,593.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The disclosure for this sale can be found here. Insiders sold 8,747 shares of company stock valued at $398,552 over the last 90 days. 0.03% of the stock is owned by company insiders.
Several analysts have recently commented on INTC shares. Robert W. Baird set a $64.00 target price on shares of Intel and gave the company a “buy” rating in a report on Thursday, July 12th. Royal Bank of Canada reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a report on Monday, July 16th. Stifel Nicolaus reiterated a “neutral” rating and issued a $60.00 target price on shares of Intel in a report on Monday, July 16th. Citigroup downgraded shares of Intel from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Friday, July 27th. Finally, Bank of America downgraded shares of Intel from a “buy” rating to a “neutral” rating and lowered their target price for the company from $62.00 to $56.00 in a report on Friday, July 27th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.33.
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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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