V Wealth Advisors LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 12.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,435 shares of the chip maker’s stock after selling 2,891 shares during the period. V Wealth Advisors LLC’s holdings in Intel were worth $1,163,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in Intel by 2.1% in the 4th quarter. Guggenheim Capital LLC now owns 1,674,967 shares of the chip maker’s stock worth $100,247,000 after buying an additional 34,686 shares in the last quarter. Macquarie Group Ltd. increased its stake in Intel by 1.9% in the 4th quarter. Macquarie Group Ltd. now owns 16,022,368 shares of the chip maker’s stock worth $958,938,000 after buying an additional 295,674 shares in the last quarter. Stillwater Investment Management LLC increased its stake in Intel by 3.3% in the 1st quarter. Stillwater Investment Management LLC now owns 47,506 shares of the chip maker’s stock worth $2,571,000 after buying an additional 1,519 shares in the last quarter. Summit Financial Group Inc. increased its stake in Intel by 2.0% in the 1st quarter. Summit Financial Group Inc. now owns 39,510 shares of the chip maker’s stock worth $2,138,000 after buying an additional 780 shares in the last quarter. Finally, Deane Retirement Strategies Inc. purchased a new stake in Intel in the 1st quarter worth $1,407,000. Hedge funds and other institutional investors own 64.95% of the company’s stock.
A number of brokerages have recently weighed in on INTC. Bank of America lowered Intel from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $62.00 in a research report on Friday, July 24th. Northland Securities lowered Intel from a “market perform” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Friday, July 24th. Barclays lowered Intel from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $58.00 to $48.00 in a research report on Friday, July 24th. BNP Paribas downgraded shares of Intel from an “outperform” rating to an “underperform” rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein downgraded shares of Intel from a “market perform” rating to an “underperform” rating and set a $45.00 price target for the company. in a report on Friday, July 24th. Twelve research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.67.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 29.97% and a return on equity of 31.55%. During the same period last year, the company posted $1.06 earnings per share. On average, analysts forecast that Intel Co. will post 4.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, August 6th. Intel’s payout ratio is 27.10%.
In other Intel news, CEO Robert Holmes Swan acquired 8,021 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average cost 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Navin Shenoy sold 7,018 shares of Intel stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $59.83, for a total transaction of $419,886.94. Following the transaction, the executive vice president now directly owns 68,942 shares in the company, valued at $4,124,799.86. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.
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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