Wafra Investment Advisory Group Inc. NY Acquires Shares of 212,176 Intel Co. (INTC)

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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 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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