Cedar Capital LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,237 shares of the chip maker’s stock after buying an additional 2,986 shares during the quarter. Cedar Capital LLC’s holdings in Intel were worth $807,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of INTC. Quad Cities Investment Group LLC acquired a new stake in Intel during the 2nd quarter valued at approximately $107,000. Elmwood Wealth Management Inc. acquired a new stake in Intel during the 1st quarter valued at approximately $110,000. Financial Gravity Wealth Inc. acquired a new stake in Intel during the 1st quarter valued at approximately $120,000. WP Advisors LLC acquired a new stake in Intel during the 2nd quarter valued at approximately $137,000. Finally, Well Done LLC acquired a new stake in Intel during the 1st quarter valued at approximately $156,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
In related news, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the transaction, the executive vice president now directly owns 30,324 shares in the company, valued at approximately $1,384,593.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,747 shares of company stock worth $398,552. 0.03% of the stock is owned by company insiders.
Shares of INTC opened at $48.11 on Friday. Intel Co. has a 12-month low of $42.04 and a 12-month high of $57.60. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $221.05 billion, a P/E ratio of 13.90, a PEG ratio of 1.24 and a beta of 0.88.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The company had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.11 billion. As a group, sell-side analysts forecast that Intel Co. will post 4.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s dividend payout ratio is currently 34.68%.
A number of analysts have weighed in on INTC shares. Zacks Investment Research raised shares of Intel from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, September 26th. KeyCorp decreased their target price on shares of Intel from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. BidaskClub downgraded shares of Intel from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Evercore ISI reissued a “hold” rating on shares of Intel in a research report on Sunday, October 28th. Finally, Royal Bank of Canada decreased their target price on shares of Intel from $57.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday, October 1st. Six investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $55.27.
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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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