Shelter Ins Retirement Plan lowered its stake in Intel Co. (NASDAQ:INTC) by 24.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,000 shares of the chip maker’s stock after selling 45,600 shares during the quarter. Intel comprises approximately 3.4% of Shelter Ins Retirement Plan’s holdings, making the stock its 8th largest holding. Shelter Ins Retirement Plan’s holdings in Intel were worth $7,009,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Elmwood Wealth Management Inc. purchased a new stake in Intel in the 1st quarter worth $110,000. Financial Gravity Wealth Inc. purchased a new stake in Intel in the 1st quarter worth $120,000. Virtue Capital Management LLC purchased a new stake in Intel in the 4th quarter worth $109,000. Well Done LLC purchased a new stake in Intel in the 1st quarter worth $156,000. Finally, PDS Planning Inc bought a new stake in shares of Intel in the 1st quarter worth about $159,000. Institutional investors and hedge funds own 65.33% of the company’s stock.
Shares of NASDAQ:INTC opened at $45.70 on Thursday. The stock has a market cap of $219.46 billion, a P/E ratio of 13.21, a PEG ratio of 1.34 and a beta of 0.97. Intel Co. has a 12 month low of $37.10 and a 12 month high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. equities analysts forecast that Intel Co. will post 4.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.63%. Intel’s payout ratio is 34.68%.
A number of analysts have recently weighed in on the stock. Sanford C. Bernstein set a $54.00 target price on shares of Intel and gave the stock a “neutral” rating in a report on Wednesday, June 6th. Northland Securities downgraded shares of Intel from a “market perform” rating to an “underperform” rating in a report on Monday, June 18th. BidaskClub downgraded shares of Intel from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 12th. Morgan Stanley boosted their target price on shares of Intel from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, June 22nd. Finally, Nomura set a $55.00 target price on shares of Intel and gave the stock a “neutral” rating in a report on Monday, June 25th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.29.
In other Intel news, EVP Navin Shenoy sold 601 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $47.69, for a total value of $28,661.69. Following the transaction, the executive vice president now directly owns 40,903 shares in the company, valued at approximately $1,950,664.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $52.43, for a total transaction of $116,027.59. Following the completion of the transaction, the executive vice president now owns 23,268 shares in the company, valued at $1,219,941.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,077 shares of company stock worth $205,757 over the last quarter. 0.03% of the stock is currently owned by insiders.
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.
See Also: What are the Benefits of Index Funds?
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.