Gabelli Funds LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,400 shares of the chip maker’s stock after selling 22,600 shares during the period. Gabelli Funds LLC’s holdings in Intel were worth $11,851,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC purchased a new position in shares of Intel during the 2nd quarter valued at approximately $107,000. Financial Gravity Wealth Inc. purchased a new position in shares of Intel during the 1st quarter valued at approximately $120,000. WP Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at approximately $137,000. Well Done LLC purchased a new position in shares of Intel during the 1st quarter valued at approximately $156,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Intel during the 1st quarter valued at approximately $187,000. Institutional investors and hedge funds own 64.81% of the company’s stock.
In other Intel news, EVP Steven Ralph Rodgers sold 2,235 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value 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 approximately $1,384,593.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was 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 $649,758.63. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on INTC. Goldman Sachs Group lowered Intel from a “neutral” rating to a “sell” rating and decreased their target price for the company from $49.00 to $44.00 in a research report on Friday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Intel in a research report on Thursday, August 9th. Sanford C. Bernstein set a $42.00 target price on Intel and gave the company a “sell” rating in a research report on Thursday, August 9th. Stifel Nicolaus reiterated a “neutral” rating and set a $52.00 target price on shares of Intel in a research report on Thursday, August 9th. Finally, BNP Paribas set a $54.00 target price on Intel and gave the company a “neutral” rating in a research report on Thursday, August 9th. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $55.47.
Shares of INTC opened at $47.70 on Friday. Intel Co. has a 52-week low of $42.04 and a 52-week high of $57.60. The firm has a market capitalization of $228.58 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.28 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The business had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. On average, sell-side analysts forecast that Intel Co. will post 4.53 EPS for the current fiscal year.
Intel announced that its Board of Directors has initiated a share repurchase program on Thursday, November 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the chip maker to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Tuesday, November 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.
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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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