Stony Point Wealth Management Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,077 shares of the chip maker’s stock after selling 558 shares during the period. Stony Point Wealth Management Inc.’s holdings in Intel were worth $646,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC raised its stake in Intel by 4,885.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock valued at $254,860,000 after purchasing an additional 2,497,476 shares during the period. Swedbank raised its stake in Intel by 49.3% during the 2nd quarter. Swedbank now owns 5,457,971 shares of the chip maker’s stock valued at $261,273,000 after purchasing an additional 1,803,296 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Intel by 197.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,216,066 shares of the chip maker’s stock valued at $90,977,000 after purchasing an additional 1,471,705 shares during the period. ADAMCAPITAL Gestao de Recursos Ltda. raised its stake in Intel by 40.0% during the 4th quarter. ADAMCAPITAL Gestao de Recursos Ltda. now owns 4,207,217 shares of the chip maker’s stock valued at $197,445,000 after purchasing an additional 1,201,502 shares during the period. Finally, FMR LLC raised its stake in Intel by 5.5% during the 1st quarter. FMR LLC now owns 21,740,723 shares of the chip maker’s stock valued at $1,167,477,000 after purchasing an additional 1,133,474 shares during the period. Hedge funds and other institutional investors own 66.50% of the company’s stock.
In other news, Chairman Andy D. Bryant sold 13,609 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $51.76, for a total transaction of $31,107.76. Following the sale, the executive vice president now directly owns 53,063 shares of the company’s stock, valued at approximately $2,746,540.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,524 shares of company stock valued at $1,844,221. Company insiders own 0.02% of the company’s stock.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. Sell-side analysts expect that Intel Co. will post 4.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Tuesday, August 6th. Intel’s payout ratio is 27.51%.
Several analysts have issued reports on the stock. Deutsche Bank reissued a “buy” rating and set a $62.00 target price (up from $60.00) on shares of Intel in a research note on Friday, July 26th. SunTrust Banks reaffirmed a “buy” rating and issued a $58.00 price target (up from $54.00) on shares of Intel in a research note on Friday, July 26th. Wells Fargo & Co dropped their price target on shares of Intel from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada reiterated an “underperform” rating and issued a $47.00 price objective (up from $41.00) on shares of Intel in a report on Friday, July 26th. Finally, Barclays reiterated a “sell” rating and issued a $40.00 price objective on shares of Intel in a report on Friday, July 26th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. Intel has a consensus rating of “Hold” and a consensus price target of $54.31.
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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