Intel Co. (INTC) Position Trimmed by Chesapeake Wealth Management

Chesapeake Wealth Management reduced its stake in Intel Co. (NASDAQ:INTC) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,455 shares of the chip maker’s stock after selling 2,185 shares during the period. Chesapeake Wealth Management’s holdings in Intel were worth $1,414,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. increased its holdings in shares of Intel by 3.6% in the second quarter. ST Germain D J Co. Inc. now owns 78,122 shares of the chip maker’s stock valued at $3,883,000 after purchasing an additional 2,720 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Intel in the second quarter valued at $3,006,000. Cim Investment Mangement Inc. increased its holdings in shares of Intel by 63.3% in the second quarter. Cim Investment Mangement Inc. now owns 31,692 shares of the chip maker’s stock valued at $1,575,000 after purchasing an additional 12,282 shares during the last quarter. Trust Co. of Virginia VA increased its holdings in shares of Intel by 3.2% in the second quarter. Trust Co. of Virginia VA now owns 238,257 shares of the chip maker’s stock valued at $11,843,000 after purchasing an additional 7,281 shares during the last quarter. Finally, Cedar Capital LLC increased its holdings in shares of Intel by 22.5% in the second quarter. Cedar Capital LLC now owns 16,237 shares of the chip maker’s stock valued at $807,000 after purchasing an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the sale, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. Insiders have sold 8,747 shares of company stock valued at $398,552 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

INTC opened at $48.11 on Friday. Intel Co. has a twelve month low of $42.04 and a twelve month high of $57.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13. The stock has a market cap of $221.05 billion, a P/E ratio of 13.90, a PEG ratio of 1.24 and a beta of 0.88.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.25. Intel had a net margin of 21.91% and a return on equity of 29.64%. The business had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. As a group, analysts anticipate that Intel Co. will post 4.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.49%. Intel’s dividend payout ratio is 34.68%.

INTC has been the topic of several research reports. Zacks Investment Research upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, September 26th. KeyCorp decreased their price objective on shares of Intel from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. BidaskClub downgraded shares of Intel from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Evercore ISI reiterated a “hold” rating on shares of Intel in a report on Sunday, October 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Intel from $57.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, October 1st. Six 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 stock. The company presently has an average rating of “Hold” and a consensus target price of $55.27.

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Intel Profile

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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