Crescent Grove Advisors LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 19.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,782 shares of the chip maker’s stock after selling 4,601 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Intel were worth $934,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Virtue Capital Management LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $109,000. Elmwood Wealth Management Inc. bought a new position in shares of Intel in the first quarter valued at approximately $110,000. Financial Gravity Wealth Inc. bought a new position in shares of Intel in the first quarter valued at approximately $120,000. Well Done LLC bought a new position in shares of Intel in the first quarter valued at approximately $156,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Intel in the fourth quarter valued at approximately $157,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $47.69, for a total value of $28,661.69. Following the sale, the executive vice president now owns 40,903 shares in the company, valued at approximately $1,950,664.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $52.43, for a total transaction of $116,027.59. Following the completion of the sale, the executive vice president now owns 23,268 shares in the company, valued at approximately $1,219,941.24. The disclosure for this sale can be found here. Insiders have sold 4,077 shares of company stock worth $205,757 in the last quarter. Corporate insiders own 0.03% of the company’s stock.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.05. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. sell-side analysts anticipate that Intel Co. will post 4.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. Intel’s dividend payout ratio is currently 34.68%.
A number of equities analysts have recently commented on the stock. Summit Insights lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Stifel Nicolaus reissued a “neutral” rating and issued a $52.00 price target on shares of Intel in a research report on Thursday, August 9th. Sanford C. Bernstein set a $54.00 price target on shares of Intel and gave the company a “neutral” rating in a research report on Wednesday, June 6th. Barclays lowered shares of Intel from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $62.00 to $53.00 in a research report on Monday, August 6th. Finally, BidaskClub lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have given a buy rating to the company. Intel presently has a consensus rating of “Hold” and an average target price of $55.55.
Intel Company Profile
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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