Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in Intel Co. (NASDAQ:INTC) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,691 shares of the chip maker’s stock after selling 3,483 shares during the quarter. Intel makes up 0.8% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 28th biggest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Intel were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in INTC. Global Trust Asset Management LLC lifted its stake in shares of Intel by 1.1% during the fourth quarter. Global Trust Asset Management LLC now owns 15,443 shares of the chip maker’s stock valued at $769,000 after buying an additional 175 shares during the period. Archford Capital Strategies LLC boosted its holdings in shares of Intel by 2.9% during the third quarter. Archford Capital Strategies LLC now owns 6,639 shares of the chip maker’s stock worth $344,000 after purchasing an additional 190 shares during the last quarter. Clarity Wealth Advisors LLC grew its position in shares of Intel by 1.7% in the third quarter. Clarity Wealth Advisors LLC now owns 11,905 shares of the chip maker’s stock valued at $616,000 after purchasing an additional 200 shares during the period. Clean Yield Group increased its stake in Intel by 1.9% in the third quarter. Clean Yield Group now owns 11,300 shares of the chip maker’s stock valued at $585,000 after purchasing an additional 211 shares during the last quarter. Finally, Gleason Group Inc. lifted its position in Intel by 0.6% during the third quarter. Gleason Group Inc. now owns 39,885 shares of the chip maker’s stock worth $2,065,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 60.73% of the company’s stock.
Several brokerages have recently weighed in on INTC. Rosenblatt Securities reiterated a “sell” rating and set a $40.00 price objective (down from $45.00) on shares of Intel in a report on Friday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Intel from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, December 14th. Credit Suisse Group lowered their price objective on shares of Intel from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. They noted that the move was a valuation call. BidaskClub lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, December 22nd. Finally, Royal Bank of Canada set a $40.00 target price on Intel and gave the company a “sell” rating in a report on Monday, January 4th. Eleven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.81.
In other Intel news, CEO Robert Holmes Swan bought 8,021 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was purchased at an average price of $44.96 per share, for a total transaction of $360,624.16. Following the completion of the transaction, the chief executive officer now directly owns 309,844 shares of the company’s stock, valued at $13,930,586.24. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 2,848 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.96, for a total transaction of $128,046.08. Following the transaction, the executive vice president now owns 72,272 shares of the company’s stock, valued at approximately $3,249,349.12. The disclosure for this sale can be found here. 0.04% of the stock is owned by company insiders.
Shares of Intel stock traded up $4.07 during midday trading on Wednesday, hitting $57.31. 6,222,263 shares of the company were exchanged, compared to its average volume of 35,323,320. The firm has a 50 day simple moving average of $49.35 and a 200-day simple moving average of $50.54. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.66 and a quick ratio of 1.24. Intel Co. has a 52 week low of $43.61 and a 52 week high of $69.29. The firm has a market cap of $234.86 billion, a P/E ratio of 11.24, a PEG ratio of 1.36 and a beta of 0.74.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.01. Intel had a net margin of 28.10% and a return on equity of 29.44%. The firm had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. During the same period in the prior year, the business earned $1.42 EPS. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts expect that Intel Co. will post 4.89 earnings per share for the current year.
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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