Eagle Ridge Investment Management trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,513 shares of the chip maker’s stock after selling 16,325 shares during the quarter. Intel comprises 3.2% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 6th biggest holding. Eagle Ridge Investment Management’s holdings in Intel were worth $21,450,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its holdings in shares of Intel by 45.2% in the 1st quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock valued at $2,122,927,000 after buying an additional 12,217,997 shares during the period. BlackRock Inc. lifted its holdings in shares of Intel by 2.9% in the 1st quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock valued at $16,852,495,000 after buying an additional 8,659,315 shares during the period. Advisor Group Holdings Inc. acquired a new stake in shares of Intel in the 1st quarter valued at approximately $73,141,000. Swedbank lifted its holdings in shares of Intel by 195.4% in the 1st quarter. Swedbank now owns 5,394,241 shares of the chip maker’s stock valued at $291,936,000 after buying an additional 3,567,898 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Intel by 20.9% in the 1st quarter. Swiss National Bank now owns 16,882,304 shares of the chip maker’s stock valued at $913,670,000 after buying an additional 2,913,600 shares during the period. 64.95% of the stock is owned by institutional investors.
Shares of Intel stock opened at $47.73 on Friday. Intel Co. has a twelve month low of $43.63 and a twelve month high of $69.29. The stock has a market capitalization of $204.10 billion, a P/E ratio of 8.79, a PEG ratio of 1.32 and a beta of 0.78. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $58.00 and its 200 day moving average price is $59.19.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. The company had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter in the previous year, the firm posted $1.06 earnings per share. As a group, sell-side analysts predict that Intel Co. will post 4.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 6th. Intel’s dividend payout ratio is presently 27.10%.
In other Intel news, CEO Robert Holmes Swan purchased 8,021 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the purchase, the chief executive officer now owns 293,594 shares in the company, valued at approximately $14,679,700. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the transaction, the executive vice president now owns 71,807 shares in the company, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
INTC has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $80.00 price target on Intel and gave the company a “buy” rating in a report on Friday, April 24th. Roth Capital cut Intel from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $55.00 in a report on Friday, July 24th. ValuEngine cut Intel from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Tuesday, July 7th. Finally, Wells Fargo & Co reduced their price objective on Intel from $60.00 to $55.00 in a report on Friday, July 24th. Twelve research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.67.
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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