Delta Capital Management LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,553 shares of the chip maker’s stock after selling 4,890 shares during the quarter. Intel comprises approximately 2.4% of Delta Capital Management LLC’s holdings, making the stock its 20th largest position. Delta Capital Management LLC’s holdings in Intel were worth $3,533,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of INTC. Nuveen Asset Management LLC boosted its position in shares of Intel by 1,899.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock worth $1,204,894,000 after purchasing an additional 23,911,014 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Intel by 806.0% in the 2nd quarter. Davis Selected Advisers now owns 7,473,706 shares of the chip maker’s stock worth $357,766,000 after purchasing an additional 6,648,828 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Intel by 214.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock worth $460,532,000 after purchasing an additional 6,564,340 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Intel by 4,885.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock worth $254,860,000 after purchasing an additional 2,497,476 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Intel by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock worth $17,406,717,000 after purchasing an additional 2,219,241 shares in the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
INTC has been the topic of several analyst reports. Jefferies Financial Group set a $40.00 price objective on Intel and gave the company a “sell” rating in a research report on Friday, July 26th. Roth Capital set a $60.00 price objective on Intel and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Securities raised Intel from an “under perform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a research report on Friday, August 16th. Loop Capital initiated coverage on Intel in a research report on Monday, August 12th. They issued a “hold” rating and a $50.00 price objective on the stock. Finally, Barclays reaffirmed a “sell” rating and issued a $40.00 price objective on shares of Intel in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.79.
Shares of NASDAQ INTC traded up $1.41 during midday trading on Friday, hitting $52.52. 10,732,367 shares of the stock traded hands, compared to its average volume of 18,505,604. The firm has a 50-day moving average of $49.72 and a two-hundred day moving average of $49.56. The firm has a market capitalization of $220.28 billion, a P/E ratio of 11.47, a PEG ratio of 1.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. Intel Co. has a one year low of $42.36 and a one year high of $59.59.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. The firm had revenue of $16.51 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS. Equities analysts forecast that Intel Co. will post 4.38 earnings per share for the current fiscal year.
The business also recently disclosed a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio (DPR) is 27.51%.
In related news, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total transaction of $31,107.76. Following the completion of the transaction, the executive vice president now directly owns 53,063 shares in the company, valued at $2,746,540.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andy D. Bryant sold 13,609 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the transaction, the chairman now owns 450,591 shares of the company’s stock, valued at approximately $23,146,859.67. The disclosure for this sale can be found here. Insiders sold a total of 41,541 shares of company stock valued at $2,135,306 over the last 90 days. 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.
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