Eagle Asset Management Inc. bought a new position in Intel Co. (NASDAQ:INTC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,489 shares of the chip maker’s stock, valued at approximately $3,006,000.
A number of other hedge funds also recently added to or reduced their stakes in INTC. Quad Cities Investment Group LLC acquired a new position in shares of Intel during the 2nd quarter worth $107,000. Elmwood Wealth Management Inc. acquired a new position in shares of Intel during the 1st quarter worth $110,000. Financial Gravity Wealth Inc. acquired a new position in shares of Intel during the 1st quarter worth $120,000. WP Advisors LLC acquired a new position in shares of Intel during the 2nd quarter worth $137,000. Finally, Well Done LLC acquired a new position in shares of Intel during the 1st quarter worth $156,000. Institutional investors own 65.25% of the company’s stock.
Shares of Intel stock opened at $48.11 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. Intel Co. has a fifty-two week low of $42.04 and a fifty-two week high of $57.60. The firm has a market capitalization of $221.05 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.24 and a beta of 0.88.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.25. Intel had a net margin of 21.91% and a return on equity of 29.64%. The firm had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. On average, equities research analysts expect that Intel Co. will post 4.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total value of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction on Friday, October 26th. The shares were sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the sale, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,747 shares of company stock valued at $398,552. Insiders own 0.03% of the company’s stock.
Several brokerages have recently commented on INTC. Macquarie restated a “buy” rating and set a $58.00 price target on shares of Intel in a research note on Wednesday. Nomura restated a “buy” rating and set a $55.00 price target on shares of Intel in a research note on Wednesday. ValuEngine lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. BidaskClub upgraded shares of Intel from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Tigress Financial restated a “buy” rating on shares of Intel in a research note on Tuesday, October 30th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.27.
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Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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