Perigon Wealth Management LLC Grows Stock Position in Intel Co. (NASDAQ:INTC)

Perigon Wealth Management LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 27,718 shares of the chip maker’s stock after purchasing an additional 1,831 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intel were worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC grew its stake in shares of Intel by 2.1% during the 4th quarter. Guggenheim Capital LLC now owns 1,674,967 shares of the chip maker’s stock valued at $100,247,000 after acquiring an additional 34,686 shares during the period. Macquarie Group Ltd. boosted its stake in Intel by 1.9% in the 4th quarter. Macquarie Group Ltd. now owns 16,022,368 shares of the chip maker’s stock worth $958,938,000 after purchasing an additional 295,674 shares during the period. Trinity Legacy Partners LLC boosted its stake in Intel by 31.2% in the 1st quarter. Trinity Legacy Partners LLC now owns 6,015 shares of the chip maker’s stock worth $327,000 after purchasing an additional 1,430 shares during the period. Indiana Trust & Investment Management CO boosted its stake in Intel by 1.4% in the 1st quarter. Indiana Trust & Investment Management CO now owns 16,863 shares of the chip maker’s stock worth $913,000 after purchasing an additional 234 shares during the period. Finally, TPG Financial Advisors LLC bought a new position in Intel in the 1st quarter worth approximately $210,000. 64.95% of the stock is owned by hedge funds and other institutional investors.

INTC stock opened at $47.73 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $58.00 and its two-hundred day simple moving average is $59.19. Intel Co. has a twelve month low of $43.63 and a twelve month high of $69.29. The firm has a market cap of $203.00 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.31 and a beta of 0.78.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business had revenue of $19.73 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same quarter last year, the firm posted $1.06 earnings per share. Research analysts expect 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. Investors of record on Friday, August 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, August 6th. Intel’s payout ratio is currently 27.10%.

INTC has been the subject of several recent analyst reports. Cowen dropped their price target on Intel from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Loop Capital dropped their price target on Intel from $59.00 to $50.00 and set a “sell” rating for the company in a research note on Friday, July 24th. Goldman Sachs Group restated a “sell” rating and issued a $46.00 price target on shares of Intel in a research note on Monday, July 27th. Bank of America downgraded Intel from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $70.00 to $62.00 in a research note on Friday, July 24th. Finally, Exane BNP Paribas downgraded Intel from an “outperform” rating to an “underperform” rating and set a $47.00 target price for the company. in a research report on Friday, July 24th. Twelve research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the company. Intel currently has a consensus rating of “Hold” and an average target price of $61.67.

In related news, EVP Navin Shenoy sold 2,847 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the sale, the executive vice president now owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Holmes Swan acquired 8,021 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the transaction, the chief executive officer now owns 293,594 shares of the company’s stock, valued at $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

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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