Providence Capital Advisors LLC Has $4.24 Million Stock Position in Intel Co. (NASDAQ:INTC)

Providence Capital Advisors LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,501 shares of the chip maker’s stock after buying an additional 7,267 shares during the quarter. Intel accounts for approximately 2.5% of Providence Capital Advisors LLC’s holdings, making the stock its 3rd biggest position. Providence Capital Advisors LLC’s holdings in Intel were worth $4,237,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of INTC. Bank of Nova Scotia Trust Co. lifted its holdings in Intel by 13.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 6,980 shares of the chip maker’s stock valued at $334,000 after acquiring an additional 830 shares during the period. FCA Corp TX purchased a new stake in shares of Intel during the 2nd quarter valued at about $504,000. Scotia Capital Inc. lifted its stake in shares of Intel by 13.9% in the 2nd quarter. Scotia Capital Inc. now owns 770,331 shares of the chip maker’s stock worth $36,879,000 after purchasing an additional 93,858 shares during the period. Signet Financial Management LLC lifted its stake in shares of Intel by 1.5% in the 2nd quarter. Signet Financial Management LLC now owns 52,719 shares of the chip maker’s stock worth $2,720,000 after purchasing an additional 800 shares during the period. Finally, Everett Harris & Co. CA boosted its holdings in shares of Intel by 1.2% in the second quarter. Everett Harris & Co. CA now owns 36,920 shares of the chip maker’s stock worth $1,767,000 after buying an additional 436 shares during the last quarter. 65.95% of the stock is owned by institutional investors and hedge funds.

In other news, Director Frank D. Yeary sold 2,509 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.86, for a total transaction of $117,571.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Andy D. Bryant sold 13,609 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total value of $699,094.33. Following the transaction, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,033 shares of company stock worth $1,961,792. 0.02% of the stock is currently owned by insiders.

Several analysts recently issued reports on the stock. Goldman Sachs Group restated a “sell” rating and set a $47.00 target price on shares of Intel in a research report on Friday, July 26th. Roth Capital set a $60.00 price target on shares of Intel and gave the stock a “buy” rating in a research note on Friday, July 26th. Mizuho lifted their price target on shares of Intel from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Tigress Financial reissued a “buy” rating on shares of Intel in a research report on Friday, August 30th. Finally, Bank of America reduced their price objective on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have given a buy rating to the stock. Intel currently has an average rating of “Hold” and an average price target of $54.09.

INTC traded up $0.88 during trading on Wednesday, reaching $52.70. 1,339,943 shares of the company traded hands, compared to its average volume of 20,417,686. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. Intel Co. has a 12-month low of $42.36 and a 12-month high of $59.59. The firm has a fifty day simple moving average of $48.23 and a 200 day simple moving average of $49.89. The company has a market cap of $228.54 billion, a P/E ratio of 11.53, a PEG ratio of 1.57 and a beta of 0.90.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The firm had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. During the same quarter last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Intel Co. will post 4.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.26 annualized dividend and a yield of 2.39%. Intel’s payout ratio is 27.51%.

About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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