Main Street Research LLC Makes New $498,000 Investment in Intel Co. (NASDAQ:INTC)

Main Street Research LLC acquired a new position in Intel Co. (NASDAQ:INTC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,329 shares of the chip maker’s stock, valued at approximately $498,000.

A number of other hedge funds also recently made changes to their positions in the business. TL Private Wealth raised its position in shares of Intel by 1.3% in the first quarter. TL Private Wealth now owns 13,178 shares of the chip maker’s stock valued at $774,000 after purchasing an additional 170 shares during the period. Bay Harbor Wealth Management LLC raised its position in shares of Intel by 17.3% in the first quarter. Bay Harbor Wealth Management LLC now owns 1,218 shares of the chip maker’s stock valued at $66,000 after purchasing an additional 180 shares during the period. Bridgeworth LLC raised its position in shares of Intel by 3.1% in the first quarter. Bridgeworth LLC now owns 6,283 shares of the chip maker’s stock valued at $340,000 after purchasing an additional 189 shares during the period. Financial Insights Inc. raised its position in shares of Intel by 5.5% in the first quarter. Financial Insights Inc. now owns 3,730 shares of the chip maker’s stock valued at $202,000 after purchasing an additional 195 shares during the period. Finally, Pure Financial Advisors Inc. raised its position in shares of Intel by 4.4% in the second quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock valued at $284,000 after purchasing an additional 199 shares during the period. 64.95% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:INTC opened at $47.73 on Friday. The company has a fifty day moving average of $58.00 and a 200 day moving average of $59.19. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $204.10 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.32 and a beta of 0.78.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The company had revenue of $19.73 billion during the quarter, compared to analyst estimates of $18.54 billion. During the same period in the prior year, the business posted $1.06 EPS. As a group, analysts anticipate that Intel Co. will post 4.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.32 annualized dividend and a yield of 2.77%. Intel’s dividend payout ratio (DPR) is presently 27.10%.

In other Intel news, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the transaction, the executive vice president now directly owns 71,807 shares in the company, valued at approximately $3,459,661.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan acquired 8,021 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was bought at an average price of $50.00 per share, with a total value of $401,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on INTC shares. ValuEngine cut shares of Intel from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein cut shares of Intel from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research note on Friday, July 24th. Cowen reduced their price objective on shares of Intel from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Bank of America cut shares of Intel from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $62.00 in a research note on Friday, July 24th. Finally, Loop Capital reduced their price objective on shares of Intel from $59.00 to $50.00 and set a “sell” rating for the company in a research note on Friday, July 24th. Twelve investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.67.

About Intel

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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