RB Capital Management LLC reduced its position in Intel Co. (NASDAQ:INTC – Free Report) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,648 shares of the chip maker’s stock after selling 1,153 shares during the period. RB Capital Management LLC’s holdings in Intel were worth $423,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its holdings in Intel by 173.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC raised its position in Intel by 21.6% in the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after purchasing an additional 1,056 shares during the period. Fairfield Bush & CO. bought a new stake in Intel in the first quarter worth about $142,000. Retirement Income Solutions Inc boosted its position in shares of Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after buying an additional 1,244,247 shares during the last quarter. 60.84% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Patrick P. Gelsinger acquired 6,775 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was purchased at an average price of $36.80 per share, with a total value of $249,320.00. Following the transaction, the chief executive officer now owns 25,475 shares of the company’s stock, valued at approximately $937,480. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.
Intel Stock Up 0.5 %
NASDAQ INTC opened at $38.13 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $24.73 and a 52 week high of $40.07. The business’s fifty day simple moving average is $36.08 and its 200-day simple moving average is $33.74. The firm has a market cap of $160.76 billion, a PE ratio of -94.87, a P/E/G ratio of 14.21 and a beta of 0.88.
Intel (NASDAQ:INTC – Get Free Report) last posted its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.20. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. During the same period in the previous year, the business posted $0.59 EPS. Intel’s revenue was down 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post 0.19 earnings per share for the current year.
Intel Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, November 6th. Intel’s dividend payout ratio (DPR) is presently -125.00%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Tigress Financial lowered their target price on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Citigroup raised their target price on shares of Intel from $29.50 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 18th. Mizuho boosted their price target on Intel from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Wells Fargo & Company lowered their target price on Intel from $40.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Finally, Evercore ISI lifted their price objective on Intel from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.09.
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Intel Profile
(Free Report)
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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