Intel Co. (INTC) Position Cut by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,807 shares of the chip maker’s stock after selling 1,155 shares during the quarter. Granite Investment Partners LLC’s holdings in Intel were worth $3,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Midwest Professional Planners LTD. lifted its holdings in shares of Intel by 10.7% in the 1st quarter. Midwest Professional Planners LTD. now owns 10,028 shares of the chip maker’s stock worth $522,000 after buying an additional 966 shares during the period. Kingfisher Capital LLC lifted its holdings in shares of Intel by 9.6% in the 1st quarter. Kingfisher Capital LLC now owns 11,090 shares of the chip maker’s stock worth $578,000 after buying an additional 967 shares during the period. Fiduciary Group LLC lifted its holdings in shares of Intel by 2.9% in the 1st quarter. Fiduciary Group LLC now owns 34,165 shares of the chip maker’s stock worth $1,779,000 after buying an additional 969 shares during the period. WealthTrust Fairport LLC lifted its holdings in shares of Intel by 2.9% in the 1st quarter. WealthTrust Fairport LLC now owns 34,782 shares of the chip maker’s stock worth $1,811,000 after buying an additional 971 shares during the period. Finally, Schnieders Capital Management LLC lifted its holdings in shares of Intel by 0.8% in the 1st quarter. Schnieders Capital Management LLC now owns 116,518 shares of the chip maker’s stock worth $6,069,000 after buying an additional 972 shares during the period. Institutional investors own 65.40% of the company’s stock.

Shares of NASDAQ:INTC opened at $47.11 on Friday. Intel Co. has a 1 year low of $42.04 and a 1 year high of $57.60. The stock has a market cap of $220.40 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The company had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Research analysts expect that Intel Co. will post 4.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s dividend payout ratio is currently 34.68%.

Several equities research analysts have weighed in on INTC shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $68.00 target price on shares of Intel in a report on Monday, October 1st. MKM Partners lowered their target price on Intel to $58.00 and set a “buy” rating for the company in a report on Friday, August 24th. BidaskClub cut Intel from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Bank of America lowered Intel from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $62.00 to $56.00 in a research report on Friday, July 27th. Finally, Raymond James lowered Intel from a “market perform” rating to an “underperform” rating in a research report on Tuesday, September 25th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $55.33.

In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the transaction, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the transaction, the vice president now directly owns 14,271 shares in the company, valued at $649,758.63. The disclosure for this sale can be found here. Insiders have sold a total of 8,747 shares of company stock worth $398,552 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Intel Company 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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