Ballast Advisors LLC increased its position in shares of Intel Co. (NASDAQ:INTC) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,632 shares of the chip maker’s stock after purchasing an additional 1,000 shares during the quarter. Ballast Advisors LLC’s holdings in Intel were worth $457,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Community Financial Services Group LLC lifted its holdings in Intel by 0.9% in the first quarter. Community Financial Services Group LLC now owns 64,954 shares of the chip maker’s stock valued at $3,515,000 after acquiring an additional 606 shares during the period. Krueger & Catalano Capital Partners LLC lifted its holdings in Intel by 18.5% in the first quarter. Krueger & Catalano Capital Partners LLC now owns 5,909 shares of the chip maker’s stock valued at $320,000 after acquiring an additional 924 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Intel by 1.2% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 25,893 shares of the chip maker’s stock worth $1,401,000 after buying an additional 300 shares during the period. Halbert Hargrove Global Advisors LLC raised its stake in shares of Intel by 8.4% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 7,618 shares of the chip maker’s stock worth $412,000 after buying an additional 592 shares during the period. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of Intel by 3.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 34,005 shares of the chip maker’s stock worth $1,840,000 after buying an additional 1,012 shares during the period. 64.95% of the stock is owned by hedge funds and other institutional investors.
Shares of Intel stock opened at $47.73 on Friday. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The business’s fifty day simple moving average is $58.00 and its 200-day simple moving average is $59.19. The firm has a market cap of $203.00 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.78. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business had revenue of $19.73 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same quarter in the prior year, the company posted $1.06 EPS. As a group, equities analysts expect that Intel Co. will post 4.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid 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%.
INTC has been the subject of several research analyst reports. Cowen reduced their target price on Intel from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. SVB Leerink initiated coverage on Intel in a research note on Friday, July 24th. They set a “hold” rating for the company. Raymond James raised Intel from an “underperform” rating to a “market perform” rating and set a $75.00 target price for the company in a research note on Monday, April 6th. Citigroup reaffirmed a “hold” rating and set a $58.00 target price on shares of Intel in a research note on Tuesday, June 23rd. Finally, Royal Bank of Canada reduced their target price on Intel from $52.00 to $48.00 and set an “underperform” 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 issued a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.67.
In related news, EVP Navin Shenoy sold 7,018 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total transaction of $419,886.94. Following the transaction, the executive vice president now owns 68,942 shares of the company’s stock, valued at approximately $4,124,799.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert Holmes Swan bought 8,021 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the purchase, the chief executive officer now 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.
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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