Intel Co. (INTC) Holdings Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its position in shares of Intel Co. (NASDAQ:INTC) by 91.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,538 shares of the chip maker’s stock after acquiring an additional 77,915 shares during the period. Intel makes up 1.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 9th biggest position. Convergence Investment Partners LLC’s holdings in Intel were worth $8,129,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INTC. Quad Cities Investment Group LLC purchased a new stake in shares of Intel in the second quarter worth about $107,000. Elmwood Wealth Management Inc. purchased a new stake in shares of Intel in the first quarter worth about $110,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Intel in the first quarter worth about $120,000. WP Advisors LLC purchased a new stake in shares of Intel in the second quarter worth about $137,000. Finally, Well Done LLC purchased a new stake in shares of Intel in the first quarter worth about $156,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ INTC opened at $48.11 on Friday. Intel Co. has a 52-week low of $42.04 and a 52-week high of $57.60. The company has a market cap of $227.93 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.28 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51.

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

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

A number of brokerages recently commented on INTC. Morningstar set a $65.00 price target on Intel and gave the company a “buy” rating in a report on Monday, October 1st. Morgan Stanley downgraded Intel from an “equal” rating to a “weight” rating in a report on Monday, October 1st. BidaskClub downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Nomura reissued a “neutral” rating and issued a $50.00 price target on shares of Intel in a report on Friday, August 10th. Finally, Macquarie set a $60.00 price target on Intel and gave the company a “buy” rating in a report on Sunday, September 30th. Six analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.27.

In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,384,593.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The disclosure for this sale can be found here. Insiders have sold a total of 8,747 shares of company stock worth $398,552 over the last quarter. Insiders own 0.03% of the company’s stock.

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About Intel

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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