Regent Investment Management LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,459 shares of the chip maker’s stock after selling 1,465 shares during the period. Regent Investment Management LLC’s holdings in Intel were worth $1,583,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Koshinski Asset Management Inc. raised its stake in shares of Intel by 4.0% in the 2nd quarter. Koshinski Asset Management Inc. now owns 59,764 shares of the chip maker’s stock valued at $3,576,000 after acquiring an additional 2,293 shares in the last quarter. Eads & Heald Wealth Management grew its holdings in Intel by 2.6% in the 2nd quarter. Eads & Heald Wealth Management now owns 14,982 shares of the chip maker’s stock valued at $896,000 after buying an additional 375 shares during the last quarter. Iberiabank Corp grew its holdings in Intel by 1.3% in the 2nd quarter. Iberiabank Corp now owns 112,232 shares of the chip maker’s stock valued at $6,715,000 after buying an additional 1,430 shares during the last quarter. Main Street Research LLC acquired a new stake in Intel in the 2nd quarter valued at approximately $498,000. Finally, Sciencast Management LP acquired a new stake in Intel in the 2nd quarter valued at approximately $2,084,000. 64.95% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on INTC. Royal Bank of Canada lowered their target price on Intel from $52.00 to $48.00 and set an “underperform” rating on the stock in a report on Friday, July 24th. Sanford C. Bernstein lowered Intel from a “market perform” rating to an “underperform” rating and set a $45.00 target price on the stock. in a report on Friday, July 24th. JPMorgan Chase & Co. set a $80.00 target price on Intel and gave the company a “buy” rating in a report on Friday, April 24th. Raymond James raised Intel from an “underperform” rating to a “market perform” rating and set a $75.00 target price on the stock in a report on Monday, April 6th. Finally, Morgan Stanley decreased their price objective on Intel from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. Twelve equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $61.67.
Shares of NASDAQ INTC opened at $47.73 on Friday. The firm has a market cap of $204.10 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $43.63 and a 1-year high of $69.29. The business’s 50 day moving average is $58.00 and its 200-day moving average is $59.19.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. The company had revenue of $19.73 billion for the quarter, compared to analyst estimates of $18.54 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. During the same quarter last year, the company earned $1.06 earnings per share. Analysts forecast that Intel Co. will post 4.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. Intel’s dividend payout ratio (DPR) is currently 27.10%.
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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