Bayesian Capital Management LP Sells 41,931 Shares of Intel Co. (INTC)
Bayesian Capital Management LP trimmed its stake in Intel Co. (NASDAQ:INTC) by 53.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,900 shares of the chip maker’s stock after selling 41,931 shares during the quarter. Intel makes up about 0.5% of Bayesian Capital Management LP’s investment portfolio, making the stock its 24th largest holding. Bayesian Capital Management LP’s holdings in Intel were worth $1,922,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Virtue Capital Management LLC acquired a new position in shares of Intel during the fourth quarter valued at $109,000. Elmwood Wealth Management Inc. acquired a new position in shares of Intel during the first quarter valued at $110,000. Financial Gravity Wealth Inc. acquired a new position in shares of Intel during the first quarter valued at $120,000. First Dallas Securities Inc. acquired a new position in shares of Intel during the fourth quarter valued at $144,000. Finally, Well Done LLC acquired a new position in shares of Intel during the first quarter valued at $156,000. Institutional investors own 66.74% of the company’s stock.
A number of brokerages have recently commented on INTC. Stifel Nicolaus reissued a “neutral” rating and set a $60.00 price target on shares of Intel in a report on Monday, July 16th. Cowen lowered their price target on Intel from $54.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. Sanford C. Bernstein set a $42.00 price target on Intel and gave the company a “sell” rating in a report on Thursday, August 9th. Wells Fargo & Co set a $58.00 price target on Intel and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank of Canada reissued a “neutral” rating and set a $60.00 price target on shares of Intel in a report on Monday, July 16th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.55.
Shares of INTC opened at $46.50 on Tuesday. The stock has a market capitalization of $228.54 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.41 and a beta of 1.00. Intel Co. has a 1-year low of $34.38 and a 1-year high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.05. The firm had revenue of $16.96 billion for the quarter, compared to analysts’ expectations of $16.78 billion. Intel had a return on equity of 27.33% and a net margin of 20.07%. Intel’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. equities analysts forecast that Intel Co. will post 4.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be paid a $0.30 dividend. The ex-dividend date is Monday, August 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. Intel’s dividend payout ratio is currently 34.68%.
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.
Recommended Story: Momentum Indicator: Relative Strength Index
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC).
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.