Veritable L.P. Reduces Position in Intel Co. (NASDAQ:INTC)

Veritable L.P. lessened its position in shares of Intel Co. (NASDAQ:INTC) by 0.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 238,480 shares of the chip maker’s stock after selling 2,266 shares during the quarter. Veritable L.P.’s holdings in Intel were worth $11,416,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. lifted its position in Intel by 5.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 21,962 shares of the chip maker’s stock worth $1,051,000 after acquiring an additional 1,077 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Intel by 23.6% in the 2nd quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock valued at $124,000 after buying an additional 496 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of Intel by 2.5% in the 4th quarter. Wetherby Asset Management Inc. now owns 98,515 shares of the chip maker’s stock valued at $4,623,000 after buying an additional 2,414 shares during the period. Advisory Resource Group acquired a new stake in shares of Intel in the 1st quarter valued at approximately $241,000. Finally, Asset Planning Services Inc. LA ADV lifted its holdings in shares of Intel by 2.1% in the 2nd quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock valued at $5,794,000 after buying an additional 2,450 shares during the period. Hedge funds and other institutional investors own 65.95% of the company’s stock.

Several research firms have recently commented on INTC. Jefferies Financial Group set a $40.00 price target on Intel and gave the company a “sell” rating in a report on Friday, July 26th. Cascend Securities reissued a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Intel in a report on Friday, July 26th. Atlantic Securities began coverage on Intel in a report on Monday, July 22nd. They issued an “underweight” rating and a $38.00 price target for the company. Nomura set a $65.00 price target on Intel and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America reduced their price target on Intel from $62.00 to $57.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $54.09.

Intel stock traded up $1.92 during mid-day trading on Wednesday, hitting $48.90. 8,681,534 shares of the company were exchanged, compared to its average volume of 21,585,214. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. The business’s 50 day simple moving average is $48.14 and its two-hundred day simple moving average is $49.92. The company has a market capitalization of $210.03 billion, a P/E ratio of 10.68, a PEG ratio of 1.45 and a beta of 0.90. Intel Co. has a 12-month low of $42.36 and a 12-month high of $59.59.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. The company had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. Intel’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. Equities research analysts predict that Intel Co. will post 4.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, August 6th. Intel’s payout ratio is 27.51%.

In other news, Chairman Andy D. Bryant sold 13,609 shares of Intel stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total value of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Navin Shenoy sold 1,253 shares of Intel stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $49.24, for a total value of $61,697.72. Following the completion of the sale, the executive vice president now directly owns 55,319 shares of the company’s stock, valued at approximately $2,723,907.56. 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 three months. 0.02% of the stock is currently owned by company 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.

Featured Article: What is a Fibonacci Channel?

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.