Lakeview Capital Partners LLC lifted its position in shares of Intel Co. (NASDAQ:INTC) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,126 shares of the chip maker’s stock after purchasing an additional 1,441 shares during the period. Intel comprises about 1.0% of Lakeview Capital Partners LLC’s holdings, making the stock its 25th largest position. Lakeview Capital Partners LLC’s holdings in Intel were worth $1,348,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quad Cities Investment Group LLC acquired a new position in Intel in the 2nd quarter valued at about $107,000. Elmwood Wealth Management Inc. acquired a new position in Intel in the 1st quarter valued at about $110,000. Financial Gravity Wealth Inc. acquired a new position in Intel in the 1st quarter valued at about $120,000. WP Advisors LLC acquired a new position in Intel in the 2nd quarter valued at about $137,000. Finally, Well Done LLC acquired a new position in Intel in the 1st quarter valued at about $156,000. Institutional investors and hedge funds own 64.81% of the company’s stock.
In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the sale, the vice president now owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the sale, the executive vice president now directly owns 30,324 shares in the company, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The firm had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.11 billion. Analysts expect that Intel Co. will post 4.53 earnings per share for the current year.
Intel announced that its board has initiated a share repurchase plan on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, November 6th. Intel’s payout ratio is currently 34.68%.
A number of brokerages have weighed in on INTC. Royal Bank of Canada set a $60.00 price objective on Intel and gave the company a “neutral” rating in a report on Tuesday, July 24th. B. Riley lowered their price objective on Intel from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Intel in a report on Friday, July 27th. KeyCorp lowered their price objective on Intel from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Finally, 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 report on Friday, July 27th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.56.
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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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