Elite Wealth Management Inc. grew its stake in Intel Co. (NASDAQ:INTC) by 31.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,428 shares of the chip maker’s stock after purchasing an additional 16,314 shares during the period. Intel makes up about 4.8% of Elite Wealth Management Inc.’s holdings, making the stock its 6th largest holding. Elite Wealth Management Inc.’s holdings in Intel were worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Intel by 0.6% in the second quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock worth $17,406,717,000 after acquiring an additional 2,219,241 shares during the period. BlackRock Inc. grew its position in Intel by 0.3% in the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock worth $14,029,440,000 after acquiring an additional 961,771 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Intel by 6.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 30,298,451 shares of the chip maker’s stock worth $1,450,387,000 after buying an additional 1,952,840 shares during the period. Morgan Stanley boosted its position in shares of Intel by 8.2% during the second quarter. Morgan Stanley now owns 27,543,012 shares of the chip maker’s stock worth $1,318,484,000 after buying an additional 2,081,749 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Intel by 3.0% during the second quarter. Fisher Asset Management LLC now owns 26,557,167 shares of the chip maker’s stock worth $1,271,292,000 after buying an additional 785,668 shares during the period. Institutional investors and hedge funds own 65.89% of the company’s stock.
Several research analysts have recently commented on INTC shares. Roth Capital set a $60.00 price target on Intel and gave the stock a “buy” rating in a research report on Friday, July 26th. Sanford C. Bernstein restated a “sell” rating and set a $39.00 price target on shares of Intel in a research report on Friday, July 26th. Bank of America lowered their price target on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group set a $40.00 price target on Intel and gave the stock a “sell” rating in a research report on Friday, July 26th. Finally, Tigress Financial restated a “buy” rating on shares of Intel in a research report on Friday, August 30th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.79.
In other Intel news, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $51.76, for a total transaction of $31,107.76. Following the transaction, the executive vice president now owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Holmes Swan acquired 10,918 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the acquisition, the chief executive officer now owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 41,541 shares of company stock worth $2,135,306. 0.02% of the stock is owned by insiders.
Shares of NASDAQ INTC traded up $0.75 during mid-day trading on Wednesday, hitting $50.48. The company had a trading volume of 7,478,279 shares, compared to its average volume of 22,940,713. The company has a market capitalization of $224.25 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. Intel Co. has a 1-year low of $42.36 and a 1-year high of $59.59. The business’s 50-day simple moving average is $49.57 and its 200 day simple moving average is $49.59.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.17. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. On average, analysts expect that Intel Co. will post 4.38 EPS for the current year.
The firm also recently declared a — dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.315 dividend. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s dividend payout ratio is presently 27.51%.
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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