Brooktree Capital Management Sells 10,982 Shares of Intel Co. (NASDAQ:INTC)

Brooktree Capital Management reduced its holdings in shares of Intel Co. (NASDAQ:INTCGet Rating) by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,038 shares of the chip maker’s stock after selling 10,982 shares during the quarter. Intel accounts for about 1.0% of Brooktree Capital Management’s holdings, making the stock its 24th biggest holding. Brooktree Capital Management’s holdings in Intel were worth $1,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTC. Lansing Street Advisors acquired a new position in Intel in the 1st quarter worth about $28,000. Lloyd Advisory Services LLC. increased its holdings in Intel by 2,835.0% in the 1st quarter. Lloyd Advisory Services LLC. now owns 587 shares of the chip maker’s stock worth $29,000 after purchasing an additional 567 shares in the last quarter. Landmark Wealth Management LLC acquired a new position in Intel in the 1st quarter worth about $31,000. Emerald Advisers LLC acquired a new position in Intel in the 1st quarter worth about $38,000. Finally, Gibson Wealth Advisors LLC acquired a new position in Intel in the 4th quarter worth about $41,000. 62.74% of the stock is currently owned by institutional investors.

Intel Stock Down 0.8 %

NASDAQ:INTC traded down $0.27 on Friday, hitting $35.39. The stock had a trading volume of 40,205,089 shares, compared to its average volume of 43,986,424. The business’s fifty day moving average is $38.82 and its 200 day moving average is $44.16. The company has a market cap of $145.31 billion, a PE ratio of 7.58, a P/E/G ratio of 2.10 and a beta of 0.62. The company has a quick ratio of 1.41, a current ratio of 1.86 and a debt-to-equity ratio of 0.32. Intel Co. has a 52 week low of $35.18 and a 52 week high of $56.28.

Intel (NASDAQ:INTCGet Rating) last posted its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.41). Intel had a net margin of 26.03% and a return on equity of 16.65%. The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $17.93 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was down 17.3% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post 2.26 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be issued a $0.365 dividend. The ex-dividend date is Friday, August 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.13%. Intel’s dividend payout ratio is presently 31.26%.

Analyst Ratings Changes

A number of brokerages have issued reports on INTC. StockNews.com cut Intel from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Rosenblatt Securities decreased their price target on Intel from $40.00 to $30.00 and set a “sell” rating for the company in a research note on Friday, July 29th. Morgan Stanley decreased their price target on Intel from $46.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, July 29th. Sanford C. Bernstein set a $30.00 price target on Intel in a research note on Monday, August 1st. Finally, DZ Bank cut Intel from a “hold” rating to a “sell” rating and set a $30.00 price target for the company. in a research note on Tuesday. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.83.

Intel Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

See Also

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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