Spectrum Management Group Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 89.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,569 shares of the chip maker’s stock after selling 29,402 shares during the quarter. Spectrum Management Group Inc.’s holdings in Intel were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Intel by 23.6% during the second quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock worth $124,000 after purchasing an additional 496 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in Intel by 2.5% during the fourth quarter. Wetherby Asset Management Inc. now owns 98,515 shares of the chip maker’s stock worth $4,623,000 after purchasing an additional 2,414 shares during the last quarter. Advisory Resource Group bought a new position in Intel during the first quarter worth $241,000. Grimes & Company Inc. lifted its stake in Intel by 1.6% during the second quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock worth $18,034,000 after purchasing an additional 5,942 shares during the last quarter. Finally, Bath Savings Trust Co lifted its stake in Intel by 1.9% during the second quarter. Bath Savings Trust Co now owns 25,314 shares of the chip maker’s stock worth $1,212,000 after purchasing an additional 468 shares during the last quarter. 66.17% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Goldman Sachs Group restated a “sell” rating and set a $47.00 price objective on shares of Intel in a research note on Friday, July 26th. UBS Group reiterated a “buy” rating and issued a $58.00 target price on shares of Intel in a research note on Friday, July 26th. Mizuho raised their target price on Intel from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Benchmark assumed coverage on Intel in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group set a $40.00 target price on Intel and gave the company a “sell” rating in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $54.19.
Shares of NASDAQ INTC traded down $0.59 during midday trading on Tuesday, reaching $46.64. 2,577,829 shares of the company traded hands, compared to its average volume of 25,929,204. Intel Co. has a 52 week low of $42.36 and a 52 week high of $59.59. The stock has a 50-day moving average price of $48.79 and a 200 day moving average price of $50.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. The company has a market cap of $206.00 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.42 and a beta of 0.88.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. As a group, analysts expect that Intel Co. will post 4.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, August 6th. Intel’s payout ratio is currently 27.51%.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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