Cutler Investment Counsel LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 179,840 shares of the chip maker’s stock after buying an additional 889 shares during the period. Intel comprises approximately 1.8% of Cutler Investment Counsel LLC’s holdings, making the stock its 20th largest position. Cutler Investment Counsel LLC’s holdings in Intel were worth $9,312,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Modus Advisors LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $25,000. Price Wealth LLC grew its stake in shares of Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock worth $28,000 after purchasing an additional 251 shares during the last quarter. FAI Wealth Management grew its stake in shares of Intel by 390.4% in the 2nd quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock worth $30,000 after purchasing an additional 406 shares during the last quarter. Okabena Investment Services Inc. acquired a new position in shares of Intel in the 2nd quarter worth approximately $42,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in shares of Intel in the 2nd quarter worth approximately $60,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $48.18, for a total transaction of $137,168.46. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin Thomas Mcbride sold 4,400 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $49.28, for a total transaction of $216,832.00. Following the transaction, the vice president now directly owns 14,214 shares in the company, valued at approximately $700,465.92. The disclosure for this sale can be found here. Insiders have sold 7,491 shares of company stock worth $365,878 in the last ninety days. 0.04% of the stock is currently owned by insiders.
Shares of NASDAQ:INTC traded up $0.31 during trading on Friday, reaching $54.16. The stock had a trading volume of 23,421,388 shares, compared to its average volume of 29,674,551. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The firm has a market capitalization of $230.34 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 1.48 and a beta of 0.72. 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 stock has a fifty day simple moving average of $50.81 and a two-hundred day simple moving average of $55.53.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The company 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. On average, analysts forecast that Intel Co. will post 4.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 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 2.44%. The ex-dividend date of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is currently 27.10%.
Several brokerages have commented on INTC. Morgan Stanley decreased their target price on shares of Intel from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 24th. Zacks Investment Research cut shares of Intel from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a report on Monday, July 27th. BNP Paribas cut shares of Intel from an “outperform” rating to an “underperform” rating in a report on Friday, July 24th. Barclays cut shares of Intel from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $58.00 to $48.00 in a report on Friday, July 24th. Finally, UBS Group raised their target price on shares of Intel from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday. Twelve investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $61.24.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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