Coastal Capital Group Inc. lowered its stake in Intel Co. (NASDAQ:INTC) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,115 shares of the chip maker’s stock after selling 200 shares during the period. Coastal Capital Group Inc.’s holdings in Intel were worth $484,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of INTC. Tributary Capital Management LLC acquired a new position in Intel in the fourth quarter valued at approximately $28,000. Ogorek Anthony Joseph NY ADV lifted its stake in Intel by 500.0% in the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock valued at $28,000 after buying an additional 500 shares during the period. Global Trust Asset Management LLC lifted its stake in Intel by 273.2% in the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock valued at $45,000 after buying an additional 2,442 shares during the period. Virtus ETF Advisers LLC acquired a new position in Intel in the fourth quarter valued at approximately $48,000. Finally, Stevens First Principles Investment Advisors acquired a new position in Intel in the fourth quarter valued at approximately $53,000. Institutional investors own 66.46% of the company’s stock.
Several equities analysts have issued reports on INTC shares. Sanford C. Bernstein reissued a “sell” rating and issued a $39.00 price target on shares of Intel in a research note on Friday, July 26th. Daiwa Capital Markets lowered Intel from an “outperform” rating to a “neutral” rating in a research note on Monday, April 29th. Citigroup reissued a “neutral” rating and issued a $53.00 price target (up from $50.00) on shares of Intel in a research note on Friday, July 26th. Morgan Stanley boosted their price target on Intel from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Robert W. Baird boosted their price target on Intel from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have issued a buy rating to the stock. Intel presently has an average rating of “Hold” and a consensus price target of $54.19.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $15.70 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Intel’s revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that Intel Co. will post 4.37 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.26 annualized dividend and a yield of 2.76%. Intel’s dividend payout ratio (DPR) is currently 27.51%.
In related news, Chairman Andy D. Bryant sold 13,609 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares in the company, valued at $23,146,859.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Navin Shenoy sold 8,552 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total value of $400,062.56. Following the sale, the executive vice president now owns 68,833 shares of the company’s stock, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. Insiders have sold 36,524 shares of company stock valued at $1,844,221 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.
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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