Old Port Advisors cut its holdings in Intel Co. (NASDAQ:INTC) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,443 shares of the chip maker’s stock after selling 684 shares during the quarter. Intel comprises 1.8% of Old Port Advisors’ portfolio, making the stock its 9th largest position. Old Port Advisors’ holdings in Intel were worth $3,563,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in Intel in the fourth quarter worth $28,000. Virtus ETF Advisers LLC acquired a new stake in shares of Intel during the fourth quarter worth $48,000. Stevens First Principles Investment Advisors acquired a new stake in shares of Intel during the fourth quarter worth $53,000. Contravisory Investment Management Inc. raised its holdings in shares of Intel by 234.1% during the second quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock worth $55,000 after acquiring an additional 803 shares during the period. Finally, Ruggie Capital Group raised its holdings in shares of Intel by 247.0% during the fourth quarter. Ruggie Capital Group now owns 1,440 shares of the chip maker’s stock worth $68,000 after acquiring an additional 1,025 shares during the period. 65.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on INTC. SunTrust Banks restated a “buy” rating and set a $58.00 price objective (up from $54.00) on shares of Intel in a report on Friday, July 26th. Cascend Securities reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $55.00) on shares of Intel in a research report on Friday, July 26th. Roth Capital set a $60.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Co decreased their target price on shares of Intel from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Finally, Benchmark assumed coverage on shares of Intel in a research report on Tuesday, July 23rd. They issued a “hold” rating for the company. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.31.
Shares of INTC traded down $0.82 during midday trading on Friday, reaching $48.68. The stock had a trading volume of 27,870,693 shares, compared to its average volume of 18,874,836. The company’s 50 day simple moving average is $48.96. Intel Co. has a one year low of $42.36 and a one year high of $59.59. The stock has a market cap of $223.94 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. As a group, analysts anticipate that Intel Co. will post 4.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, August 6th. Intel’s payout ratio is 27.51%.
In related news, EVP Navin Shenoy sold 8,552 shares of Intel stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total transaction of $400,062.56. Following the completion of the sale, the executive vice president now owns 68,833 shares of the company’s stock, valued at approximately $3,220,007.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed E. Hundt sold 10,000 shares of Intel stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $52.45, for a total transaction of $524,500.00. Following the sale, the director now directly owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. Insiders have sold a total of 32,762 shares of company stock valued at $1,654,765 in the last ninety days. 0.02% of the stock is currently owned by insiders.
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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