BerganKDV Wealth Management LLC Increases Holdings in Intel Co. (NASDAQ:INTC)

BerganKDV Wealth Management LLC lifted its position in shares of Intel Co. (NASDAQ:INTC) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,358 shares of the chip maker’s stock after acquiring an additional 3,498 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Intel were worth $4,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Grandview Asset Management LLC purchased a new stake in Intel in the 1st quarter valued at approximately $25,000. Harvest Group Wealth Management LLC purchased a new stake in Intel in the 2nd quarter valued at approximately $30,000. Roble Belko & Company Inc lifted its stake in Intel by 125.9% in the 1st quarter. Roble Belko & Company Inc now owns 497 shares of the chip maker’s stock valued at $32,000 after buying an additional 277 shares in the last quarter. Smith Asset Management Group LP acquired a new position in Intel in the 2nd quarter valued at $34,000. Finally, Simon Quick Advisors LLC raised its holdings in Intel by 75.0% in the 1st quarter. Simon Quick Advisors LLC now owns 700 shares of the chip maker’s stock valued at $44,000 after acquiring an additional 300 shares during the last quarter. 62.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of INTC stock traded up $0.49 during trading hours on Wednesday, hitting $55.01. 463,815 shares of the company were exchanged, compared to its average volume of 28,327,148. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.63 and a current ratio of 1.99. Intel Co. has a one year low of $43.61 and a one year high of $68.49. The business’s 50-day simple moving average is $54.14 and its two-hundred day simple moving average is $57.73. The stock has a market capitalization of $223.18 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.50 and a beta of 0.60.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 22nd. The chip maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.06 by $0.22. Intel had a net margin of 23.91% and a return on equity of 27.24%. The business had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post 4.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Saturday, August 7th were given a dividend of $0.3475 per share. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $1.39 annualized dividend and a dividend yield of 2.53%. Intel’s payout ratio is 26.23%.

Several brokerages have weighed in on INTC. Evercore ISI cut their price target on Intel from $75.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, July 23rd. Roth Capital cut their price target on Intel from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 23rd. Credit Suisse Group set a $52.62 price target on Intel in a report on Tuesday, July 27th. Morgan Stanley boosted their price target on Intel from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. Finally, JPMorgan Chase & Co. set a $78.00 price target on Intel in a report on Thursday, August 26th. Eleven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.65.

About Intel

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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