Strategic Global Advisors LLC Cuts Position in Intel Co. (NASDAQ:INTC)
Strategic Global Advisors LLC decreased its position in Intel Co. (NASDAQ:INTC) by 52.2% during the 2nd quarter, Holdings Channel reports. The fund owned 20,692 shares of the chip maker’s stock after selling 22,572 shares during the quarter. Strategic Global Advisors LLC’s holdings in Intel were worth $991,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Delta Asset Management LLC TN raised its position in Intel by 0.9% in the 2nd quarter. Delta Asset Management LLC TN now owns 23,170 shares of the chip maker’s stock valued at $1,109,000 after purchasing an additional 200 shares during the last quarter. Mount Vernon Associates Inc. MD increased its stake in Intel by 0.4% in the second quarter. Mount Vernon Associates Inc. MD now owns 46,004 shares of the chip maker’s stock valued at $2,202,000 after purchasing an additional 200 shares during the period. NTV Asset Management LLC raised its holdings in shares of Intel by 0.7% in the second quarter. NTV Asset Management LLC now owns 28,219 shares of the chip maker’s stock valued at $1,351,000 after buying an additional 208 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC raised its holdings in shares of Intel by 3.0% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,066 shares of the chip maker’s stock valued at $340,000 after buying an additional 209 shares during the last quarter. Finally, Apriem Advisors raised its holdings in shares of Intel by 3.1% in the fourth quarter. Apriem Advisors now owns 7,074 shares of the chip maker’s stock valued at $332,000 after buying an additional 210 shares during the last quarter. Institutional investors own 65.95% of the company’s stock.
In related news, EVP Navin Shenoy sold 8,552 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total value of $400,062.56. Following the completion of the transaction, the executive vice president now directly owns 68,833 shares in the company, valued at $3,220,007.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank D. Yeary sold 2,509 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.86, for a total value of $117,571.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,033 shares of company stock worth $1,961,792. 0.02% of the stock is owned by company insiders.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The company had revenue of $16.51 billion for 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 firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. As a group, sell-side analysts forecast that Intel Co. will post 4.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.39%. Intel’s dividend payout ratio (DPR) is currently 27.51%.
A number of equities analysts recently issued reports on INTC shares. Morgan Stanley raised their price target on Intel from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. SunTrust Banks reaffirmed a “buy” rating and set a $58.00 price objective (up from $54.00) on shares of Intel in a research note on Friday, July 26th. Jefferies Financial Group set a $40.00 price objective on Intel and gave the stock a “sell” rating in a research report on Friday, July 26th. Bank of America lowered their target price on Intel from $62.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Citigroup reissued a “neutral” rating and issued a $53.00 target price (up previously from $50.00) on shares of Intel in a report on Friday, July 26th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.09.
Intel Company Profile
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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