Wedge Capital Management L L P NC increased its stake in Intel Co. (NASDAQ:INTC) by 30.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,230,970 shares of the chip maker’s stock after purchasing an additional 286,426 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Intel were worth $61,192,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of INTC. Elmwood Wealth Management Inc. acquired a new stake in Intel during the 1st quarter valued at approximately $110,000. Financial Gravity Wealth Inc. acquired a new stake in Intel during the 1st quarter valued at approximately $120,000. WP Advisors LLC acquired a new stake in Intel during the 2nd quarter valued at approximately $137,000. Well Done LLC acquired a new stake in Intel during the 1st quarter valued at approximately $156,000. Finally, PDS Planning Inc acquired a new stake in Intel during the 1st quarter valued at approximately $159,000. Institutional investors and hedge funds own 65.44% of the company’s stock.
INTC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated a “buy” rating and set a $68.00 price objective on shares of Intel in a research note on Monday, October 1st. MKM Partners lowered their price objective on Intel to $58.00 and set a “buy” rating for the company in a research note on Friday, August 24th. BidaskClub lowered Intel from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Bank of America lowered Intel from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $56.00 in a research note on Friday, July 27th. Finally, Raymond James lowered Intel from a “market perform” rating to an “underperform” rating in a research note on Tuesday, September 25th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $55.08.
Shares of NASDAQ INTC opened at $44.97 on Friday. The company has a market capitalization of $214.69 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.31 and a beta of 0.97. Intel Co. has a 12-month low of $39.83 and a 12-month high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. The business had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. Intel had a return on equity of 27.33% and a net margin of 20.07%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, research analysts forecast that Intel Co. will post 4.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend 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 34.68%.
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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