ERTS Wealth Advisors LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 20.7% during the second quarter, HoldingsChannel reports. The fund owned 7,629 shares of the chip maker’s stock after purchasing an additional 1,310 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Intel were worth $365,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Great Valley Advisor Group Inc. increased its position in Intel by 5.2% during the second quarter. Great Valley Advisor Group Inc. now owns 21,962 shares of the chip maker’s stock worth $1,051,000 after buying an additional 1,077 shares during the last quarter. Larson Financial Group LLC increased its position in Intel by 23.6% during the second quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock worth $124,000 after buying an additional 496 shares during the last quarter. Advisory Resource Group acquired a new position in Intel during the first quarter worth $241,000. Asset Planning Services Inc. LA ADV increased its position in Intel by 2.1% during the second quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock worth $5,794,000 after buying an additional 2,450 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in Intel by 1.6% during the second quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock worth $18,034,000 after buying an additional 5,942 shares during the last quarter. 65.95% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on INTC. Deutsche Bank restated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of Intel in a report on Friday, July 26th. Roth Capital set a $60.00 price target on shares of Intel and gave the company a “buy” rating in a report on Friday, July 26th. Goldman Sachs Group restated a “sell” rating and set a $47.00 price target on shares of Intel in a report on Friday, July 26th. Tigress Financial restated a “buy” rating on shares of Intel in a report on Friday, August 30th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $47.00 price target (up from $41.00) on shares of Intel in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.09.
INTC traded down $0.40 during midday trading on Friday, reaching $52.61. 3,211,713 shares of the company’s stock were exchanged, compared to its average volume of 19,875,556. The firm has a market capitalization of $229.56 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. Intel Co. has a one year low of $42.36 and a one year high of $59.59. The business has a 50-day simple moving average of $48.25 and a two-hundred day simple moving average of $49.89.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. As a group, research analysts anticipate that Intel Co. will post 4.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, August 6th. Intel’s dividend payout ratio is 27.51%.
In other Intel news, EVP Navin Shenoy sold 8,552 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total transaction of $400,062.56. Following the completion of the transaction, the executive vice president now owns 68,833 shares in the company, valued at $3,220,007.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed E. Hundt sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $52.45, for a total transaction of $524,500.00. Following the transaction, the director now owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,033 shares of company stock valued at $1,961,792. Corporate insiders own 0.02% of the company’s stock.
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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