Intel Co. (INTC) Position Trimmed by Biechele Royce Advisors
Biechele Royce Advisors trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,412 shares of the chip maker’s stock after selling 1,497 shares during the period. Intel accounts for about 3.5% of Biechele Royce Advisors’ holdings, making the stock its 8th biggest holding. Biechele Royce Advisors’ holdings in Intel were worth $5,489,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in INTC. HC Financial Advisors Inc. bought a new stake in Intel in the 4th quarter valued at about $1,320,000. Monroe Bank & Trust MI increased its position in shares of Intel by 7.6% during the fourth quarter. Monroe Bank & Trust MI now owns 26,661 shares of the chip maker’s stock valued at $967,000 after buying an additional 1,881 shares during the period. RiverPoint Capital Management LLC increased its position in shares of Intel by 71.7% during the fourth quarter. RiverPoint Capital Management LLC now owns 53,541 shares of the chip maker’s stock valued at $2,471,000 after buying an additional 22,359 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Intel during the fourth quarter valued at about $274,000. Finally, CT Mason increased its position in shares of Intel by 69.1% during the fourth quarter. CT Mason now owns 76,736 shares of the chip maker’s stock valued at $3,542,000 after buying an additional 31,360 shares during the period. 65.33% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein set a $54.00 price target on Intel and gave the company a “neutral” rating in a research report on Wednesday, June 6th. Northland Securities cut Intel from a “market perform” rating to an “underperform” rating in a research report on Monday, June 18th. BidaskClub cut Intel from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 12th. Morgan Stanley upped their price target on Intel from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, June 22nd. Finally, Nomura set a $55.00 price target on Intel and gave the company a “neutral” rating in a research report on Monday, June 25th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $55.40.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The business had revenue of $16.96 billion during the quarter, compared to analyst estimates of $16.78 billion. Intel had a return on equity of 27.33% and a net margin of 20.07%. Intel’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. sell-side analysts anticipate that Intel Co. will post 4.15 earnings per share for the current fiscal year.
The company 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 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, November 6th. Intel’s dividend payout ratio is currently 34.68%.
In other Intel news, EVP Steven Ralph Rodgers sold 2,213 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $52.43, for a total value of $116,027.59. Following the completion of the sale, the executive vice president now owns 23,268 shares of the company’s stock, valued at $1,219,941.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Navin Shenoy sold 601 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the sale, the executive vice president now directly owns 40,903 shares of the company’s stock, valued at approximately $1,950,664.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,077 shares of company stock valued at $205,757. 0.03% of the stock is owned by insiders.
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.
Read More: Google Finance Portfolio Workaround
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.