Wedge Capital Management L L P NC Buys 286,426 Shares of Intel Co. (INTC)

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.

In related news, CEO Robert Holmes Swan purchased 5,243 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were acquired at an average price of $47.69 per share, with a total value of $250,038.67. Following the acquisition, the chief executive officer now owns 71,672 shares in the company, valued at approximately $3,418,037.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the sale, the executive vice president now directly owns 40,903 shares in the company, valued at approximately $1,950,664.07. The disclosure for this sale can be found here. In the last three months, insiders sold 4,077 shares of company stock worth $205,757. Company insiders own 0.03% of the company’s stock.

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 Profile

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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