Front Row Advisors LLC Sells 335 Shares of Intel Co. (NASDAQ:INTC)

Front Row Advisors LLC lowered its position in Intel Co. (NASDAQ:INTC) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,053 shares of the chip maker’s stock after selling 335 shares during the quarter. Intel accounts for 1.8% of Front Row Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Front Row Advisors LLC’s holdings in Intel were worth $2,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Rehmann Capital Advisory Group boosted its holdings in Intel by 3.5% in the second quarter. Rehmann Capital Advisory Group now owns 61,956 shares of the chip maker’s stock valued at $2,966,000 after acquiring an additional 2,074 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Intel by 40.6% in the second quarter. EP Wealth Advisors LLC now owns 59,031 shares of the chip maker’s stock valued at $2,826,000 after acquiring an additional 17,037 shares during the last quarter. Wilsey Asset Management Inc. boosted its holdings in Intel by 1.2% in the second quarter. Wilsey Asset Management Inc. now owns 293,455 shares of the chip maker’s stock valued at $14,085,000 after acquiring an additional 3,435 shares during the last quarter. Breiter Capital Management Inc. boosted its holdings in Intel by 8.9% in the second quarter. Breiter Capital Management Inc. now owns 25,669 shares of the chip maker’s stock valued at $1,229,000 after acquiring an additional 2,089 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Intel by 0.3% in the second quarter. BlackRock Inc. now owns 293,073,773 shares of the chip maker’s stock valued at $14,029,440,000 after acquiring an additional 961,771 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Shares of NASDAQ INTC traded down $0.93 during midday trading on Tuesday, reaching $50.60. 1,342,506 shares of the company’s stock were exchanged, compared to its average volume of 19,019,720. Intel Co. has a 52-week low of $42.36 and a 52-week high of $59.59. The stock has a market capitalization of $224.96 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. The business’s fifty day moving average price is $48.89 and its two-hundred day moving average price is $49.74.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. During the same period in the previous year, the company earned $1.04 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Intel Co. will post 4.38 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.315 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 6th. Intel’s payout ratio is 27.51%.

A number of brokerages have commented on INTC. Mizuho boosted their price objective on Intel from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Roth Capital set a $60.00 price objective on Intel and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Securities upgraded Intel from an “under perform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a research note on Friday, August 16th. Jefferies Financial Group set a $40.00 price objective on Intel and gave the stock a “sell” rating in a research note on Friday, July 26th. Finally, Barclays restated a “sell” rating and set a $40.00 price objective on shares of Intel in a research note on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.09.

In other news, CEO Robert Holmes Swan acquired 10,918 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $45.70 per share, with a total value of $498,952.60. Following the completion of the acquisition, the chief executive officer now directly owns 168,955 shares in the company, valued at $7,721,243.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total value of $31,107.76. Following the completion of the sale, the executive vice president now directly owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,032 shares of company stock worth $2,006,895. Corporate insiders own 0.02% of the company’s stock.

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.

Recommended Story: What member countries make up the G-20?

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.