Torch Wealth Management LLC Boosts Holdings in Intel Co. (INTC)

Torch Wealth Management LLC grew its holdings in Intel Co. (NASDAQ:INTC) by 15.7% in the 4th quarter, HoldingsChannel reports. The fund owned 16,775 shares of the chip maker’s stock after buying an additional 2,275 shares during the quarter. Torch Wealth Management LLC’s holdings in Intel were worth $787,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tributary Capital Management LLC acquired a new position in shares of Intel during the fourth quarter worth $28,000. Tortoise Investment Management LLC grew its stake in shares of Intel by 86.7% during the third quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock worth $59,000 after purchasing an additional 580 shares in the last quarter. Ruggie Capital Group grew its stake in shares of Intel by 247.0% during the fourth quarter. Ruggie Capital Group now owns 1,440 shares of the chip maker’s stock worth $68,000 after purchasing an additional 1,025 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in shares of Intel during the fourth quarter worth $84,000. Finally, Lenox Wealth Management Inc. grew its stake in shares of Intel by 14.8% during the fourth quarter. Lenox Wealth Management Inc. now owns 2,239 shares of the chip maker’s stock worth $105,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 64.80% of the company’s stock.

NASDAQ INTC traded down $0.58 during trading hours on Wednesday, hitting $43.88. 4,607,945 shares of the stock were exchanged, compared to its average volume of 24,594,217. The stock has a market capitalization of $206.31 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.40 and a beta of 0.75. Intel Co. has a 12-month low of $42.36 and a 12-month high of $59.59. The company has a quick ratio of 1.13, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 25th. The chip maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.02. The firm had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.03 billion. Intel had a net margin of 29.04% and a return on equity of 29.54%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts expect that Intel Co. will post 4.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.26 annualized dividend and a yield of 2.87%. Intel’s dividend payout ratio is currently 27.51%.

In other Intel news, Chairman Andy D. Bryant sold 11,734 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $53.03, for a total transaction of $622,254.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Navin Shenoy sold 1,254 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $50.80, for a total transaction of $63,703.20. The disclosure for this sale can be found here. Insiders have sold 99,802 shares of company stock valued at $5,317,254 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on INTC. Royal Bank of Canada reiterated a “neutral” rating and set a $55.00 target price on shares of Intel in a research note on Wednesday, January 23rd. Deutsche Bank lowered their target price on shares of Intel from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 26th. BidaskClub downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Morgan Stanley upgraded shares of Intel from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $64.00 in a research note on Friday, February 22nd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $58.00 target price on shares of Intel in a research note on Monday, January 28th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $54.23.

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About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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