Gerber Kawasaki Wealth & Investment Management Sells 522 Shares of Intel Co. (NASDAQ:INTC)

Gerber Kawasaki Wealth & Investment Management cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.7% during the 2nd quarter, Holdings Channel reports. The firm owned 18,463 shares of the chip maker’s stock after selling 522 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Intel were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Group Wealth Management LLC bought a new position in shares of Intel in the second quarter worth $30,000. Roble Belko & Company Inc increased its holdings in Intel by 125.9% in the 1st quarter. Roble Belko & Company Inc now owns 497 shares of the chip maker’s stock valued at $32,000 after buying an additional 277 shares during the period. Smith Asset Management Group LP acquired a new position in shares of Intel in the 2nd quarter valued at approximately $34,000. Clear Perspectives Financial Planning LLC lifted its holdings in shares of Intel by 189.2% during the 2nd quarter. Clear Perspectives Financial Planning LLC now owns 1,070 shares of the chip maker’s stock worth $60,000 after acquiring an additional 700 shares during the period. Finally, Syverson Strege & Co boosted its position in shares of Intel by 270.4% during the 2nd quarter. Syverson Strege & Co now owns 1,200 shares of the chip maker’s stock worth $67,000 after acquiring an additional 876 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.

Shares of NASDAQ INTC opened at $54.26 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.63. The company has a 50-day moving average price of $54.08 and a 200-day moving average price of $57.59. The stock has a market capitalization of $220.13 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.50 and a beta of 0.60. Intel Co. has a 1 year low of $43.61 and a 1 year high of $68.49.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 22nd. The chip maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.22. Intel had a return on equity of 27.24% and a net margin of 23.91%. The firm had revenue of $18.50 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Intel Co. will post 4.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Sunday, November 7th will be given a $0.3475 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, November 4th. Intel’s payout ratio is currently 26.23%.

INTC has been the subject of several recent analyst reports. Barclays cut their target price on Intel from $58.00 to $50.00 and set an “underweight” rating for the company in a research note on Friday, July 23rd. UBS Group set a $73.00 target price on Intel in a research report on Friday, July 16th. Credit Suisse Group set a $52.62 target price on shares of Intel in a report on Tuesday, July 27th. Citigroup upped their price objective on shares of Intel from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. Finally, Evercore ISI cut their target price on shares of Intel from $75.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, July 23rd. Eleven analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $60.65.

About Intel

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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