Lord Abbett & CO. LLC Trims Stake in Intel Co. (INTC)

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Lord Abbett & CO. LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,029,902 shares of the chip maker’s stock after selling 2,739 shares during the period. Intel accounts for 0.9% of Lord Abbett & CO. LLC’s portfolio, making the stock its 6th biggest position. Lord Abbett & CO. LLC’s holdings in Intel were worth $314,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in INTC. Virtue Capital Management LLC acquired a new stake in shares of Intel during the 4th quarter valued at approximately $109,000. Elmwood Wealth Management Inc. acquired a new stake in shares of Intel during the 1st quarter valued at approximately $110,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Intel during the 1st quarter valued at approximately $120,000. First Dallas Securities Inc. acquired a new stake in shares of Intel during the 4th quarter valued at approximately $144,000. Finally, Well Done LLC acquired a new stake in shares of Intel during the 1st quarter valued at approximately $156,000. Institutional investors own 66.65% of the company’s stock.

In other news, EVP Navin Shenoy sold 601 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the transaction, the executive vice president now owns 40,903 shares of the company’s stock, valued at $1,950,664.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven Ralph Rodgers sold 1,251 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $48.37, for a total value of $60,510.87. The disclosure for this sale can be found here. In the last three months, insiders sold 4,065 shares of company stock valued at $205,200. Company insiders own 0.03% of the company’s stock.

INTC has been the topic of several research reports. Barclays upped their price target on Intel from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, April 27th. KeyCorp dropped their price target on Intel from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Wells Fargo & Co reissued a “buy” rating and set a $65.00 price target on shares of Intel in a research report on Thursday, June 21st. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Intel in a research report on Friday, July 27th. Finally, Bank of America lowered Intel from a “buy” rating to a “neutral” rating and dropped their price target for the company from $62.00 to $56.00 in a research report on Friday, July 27th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have given a buy rating to the stock. Intel currently has an average rating of “Hold” and a consensus price target of $55.55.

NASDAQ:INTC opened at $46.50 on Tuesday. Intel Co. has a 1 year low of $34.38 and a 1 year high of $57.60. The firm has a market capitalization of $220.35 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The company had revenue of $16.96 billion during the quarter, compared to analysts’ expectations of $16.78 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. sell-side analysts predict that Intel Co. will post 4.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Tuesday, August 7th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, August 6th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. Intel’s payout ratio is 34.68%.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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