Wafra Investment Advisory Group Inc. NY acquired a new stake in Intel Co. (NASDAQ:INTC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 212,176 shares of the chip maker’s stock, valued at approximately $11,050,000.
Other hedge funds have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. bought a new position in Intel in the 1st quarter worth $110,000. Financial Gravity Wealth Inc. bought a new position in shares of Intel during the 1st quarter worth about $120,000. Virtue Capital Management LLC bought a new position in shares of Intel during the 4th quarter worth about $109,000. Well Done LLC bought a new position in shares of Intel during the 1st quarter worth about $156,000. Finally, PDS Planning Inc bought a new position in shares of Intel during the 1st quarter worth about $159,000. 66.65% of the stock is owned by institutional investors and hedge funds.
In other Intel news, EVP Steven Ralph Rodgers sold 1,251 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $48.37, for a total value of $60,510.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $47.69, for a total transaction of $28,661.69. Following the completion of the transaction, the executive vice president now owns 40,903 shares in the company, valued at $1,950,664.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,077 shares of company stock worth $205,757. Company insiders own 0.03% of the company’s stock.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus restated a “neutral” rating and set a $60.00 price objective on shares of Intel in a report on Monday, July 16th. Cowen dropped their price objective on shares of Intel from $54.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. Sanford C. Bernstein set a $42.00 price objective on shares of Intel and gave the stock a “sell” rating in a report on Thursday, August 9th. BidaskClub downgraded shares of Intel from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.55.
NASDAQ:INTC opened at $47.62 on Wednesday. The stock has a market capitalization of $220.35 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.35 and a beta of 1.00. Intel Co. has a 12 month low of $34.38 and a 12 month high of $57.60. The company has a current ratio of 1.57, a quick ratio of 1.15 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.05. The firm had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. Intel had a net margin of 20.07% and a return on equity of 27.33%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. research analysts predict that Intel Co. will post 4.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th will be given a $0.30 dividend. The ex-dividend date is Monday, August 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. Intel’s dividend payout ratio (DPR) is presently 34.68%.
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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