Providence Capital Advisors LLC boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,501 shares of the chip maker’s stock after acquiring an additional 7,267 shares during the period. Intel comprises about 2.5% of Providence Capital Advisors LLC’s portfolio, making the stock its 3rd largest position. Providence Capital Advisors LLC’s holdings in Intel were worth $4,237,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ogorek Anthony Joseph NY ADV increased its holdings in shares of Intel by 500.0% in the 2nd quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 500 shares during the period. Global Trust Asset Management LLC boosted its position in Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock valued at $45,000 after purchasing an additional 2,442 shares in the last quarter. Virtus ETF Advisers LLC bought a new stake in Intel during the fourth quarter valued at about $48,000. Next Capital Management LLC purchased a new position in Intel in the second quarter valued at about $48,000. Finally, Stevens First Principles Investment Advisors purchased a new position in Intel in the fourth quarter valued at about $53,000. 65.95% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:INTC traded up $0.88 during midday trading on Wednesday, hitting $52.70. The company’s stock had a trading volume of 1,339,943 shares, compared to its average volume of 20,417,686. Intel Co. has a fifty-two week low of $42.36 and a fifty-two week high of $59.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. The firm has a market cap of $228.54 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.57 and a beta of 0.90. The firm’s 50 day moving average is $48.23 and its 200-day moving average is $49.89.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. The business 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 business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. As a group, analysts forecast that Intel Co. will post 4.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.315 per share. The ex-dividend date was Tuesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 2.39%. Intel’s dividend payout ratio (DPR) is presently 27.51%.
In related news, Chairman Andy D. Bryant sold 13,609 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total transaction of $699,094.33. Following the sale, the chairman now directly owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Holmes Swan purchased 10,918 shares of Intel stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average price of $45.70 per share, with a total value of $498,952.60. Following the completion of the transaction, the chief executive officer now owns 168,955 shares of the company’s stock, valued at approximately $7,721,243.50. The disclosure for this purchase can be found here. In the last three months, insiders have sold 39,033 shares of company stock valued at $1,961,792. 0.02% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on INTC shares. Nomura set a $65.00 target price on shares of Intel and gave the company a “buy” rating in a research report on Friday, August 23rd. Goldman Sachs Group reaffirmed a “sell” rating and issued a $47.00 price target on shares of Intel in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $47.00 price target (up from $41.00) on shares of Intel in a research report on Friday, July 26th. Mizuho increased their price objective on Intel from $52.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, UBS Group reiterated a “buy” rating and set a $58.00 price objective on shares of Intel in a report on Friday, July 26th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.09.
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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