Sunbelt Securities Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,392 shares of the chip maker’s stock after selling 406 shares during the period. Sunbelt Securities Inc.’s holdings in Intel were worth $258,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coastal Investment Advisors Inc. grew its holdings in shares of Intel by 32.9% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 24,207 shares of the chip maker’s stock worth $1,167,000 after acquiring an additional 5,991 shares during the period. Lcnb Corp grew its holdings in shares of Intel by 1.7% during the 2nd quarter. Lcnb Corp now owns 43,960 shares of the chip maker’s stock worth $2,104,000 after acquiring an additional 721 shares during the period. TD Asset Management Inc. grew its holdings in shares of Intel by 0.6% during the 2nd quarter. TD Asset Management Inc. now owns 3,280,326 shares of the chip maker’s stock worth $157,030,000 after acquiring an additional 20,422 shares during the period. Westpac Banking Corp grew its holdings in shares of Intel by 12.6% during the 2nd quarter. Westpac Banking Corp now owns 821,261 shares of the chip maker’s stock worth $39,314,000 after acquiring an additional 91,918 shares during the period. Finally, GFS Advisors LLC grew its holdings in shares of Intel by 0.3% during the 2nd quarter. GFS Advisors LLC now owns 91,586 shares of the chip maker’s stock worth $4,384,000 after acquiring an additional 318 shares during the period. 66.46% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on INTC. Daiwa Capital Markets downgraded Intel from an “outperform” rating to a “neutral” rating in a report on Monday, April 29th. Macquarie set a $60.00 price target on Intel and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Co cut their price target on Intel from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. BMO Capital Markets downgraded Intel from an “outperform” rating to a “market perform” rating and set a $47.99 price target on the stock. in a research note on Thursday, May 9th. Finally, Goldman Sachs Group restated a “sell” rating and issued a $47.00 price target on shares of Intel in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.19.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the 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 the consensus estimate of $15.70 billion. During the same period last year, the business posted $1.04 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Intel Co. will post 4.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid 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 2.71%. Intel’s dividend payout ratio is 27.51%.
In other Intel news, Director Frank D. Yeary sold 2,509 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.92, for a total transaction of $127,758.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total value of $400,062.56. Following the transaction, the executive vice president now directly owns 68,833 shares in the company, valued at $3,220,007.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,524 shares of company stock worth $1,844,221. Company insiders own 0.02% of the company’s stock.
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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