Point View Wealth Management Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 2.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,508 shares of the chip maker’s stock after selling 1,186 shares during the period. Intel comprises approximately 1.3% of Point View Wealth Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Point View Wealth Management Inc.’s holdings in Intel were worth $2,723,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC lifted its stake in shares of Intel by 45.2% in the 1st quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock valued at $2,122,927,000 after purchasing an additional 12,217,997 shares during the period. BlackRock Inc. increased its position in Intel by 2.9% in the 1st quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock valued at $16,852,495,000 after buying an additional 8,659,315 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Intel in the 1st quarter valued at about $73,141,000. Swedbank increased its position in Intel by 195.4% in the 1st quarter. Swedbank now owns 5,394,241 shares of the chip maker’s stock valued at $291,936,000 after buying an additional 3,567,898 shares in the last quarter. Finally, Swiss National Bank increased its position in Intel by 20.9% in the 1st quarter. Swiss National Bank now owns 16,882,304 shares of the chip maker’s stock valued at $913,670,000 after buying an additional 2,913,600 shares in the last quarter. 64.95% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on the company. Cowen decreased their target price on Intel from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. Loop Capital decreased their price objective on Intel from $59.00 to $50.00 and set a “sell” rating for the company in a report on Friday, July 24th. Morgan Stanley decreased their price objective on Intel from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 24th. KeyCorp raised Intel from a “sector weight” rating to an “overweight” rating and set a $82.00 price objective for the company in a report on Monday, June 15th. Finally, Tigress Financial reissued a “buy” rating on shares of Intel in a report on Thursday. Twelve analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.67.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. The business had revenue of $19.73 billion during the quarter, compared to analyst estimates of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, equities research analysts anticipate that Intel Co. will post 4.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 6th. Intel’s payout ratio is 27.10%.
In other news, EVP Navin Shenoy sold 7,018 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total transaction of $419,886.94. Following the completion of the transaction, the executive vice president now owns 68,942 shares of the company’s stock, valued at $4,124,799.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan acquired 8,021 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were acquired at an average cost of $50.00 per share, with a total value of $401,050.00. Following the acquisition, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.
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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