Traynor Capital Management Inc. Sells 3,418 Shares of Intel Co. (NASDAQ:INTC)

Traynor Capital Management Inc. trimmed its holdings in Intel Co. (NASDAQ:INTC) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,326 shares of the chip maker’s stock after selling 3,418 shares during the period. Traynor Capital Management Inc.’s holdings in Intel were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its holdings in shares of Intel by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 24,959,006 shares of the chip maker’s stock valued at $1,171,326,000 after purchasing an additional 803,207 shares during the last quarter. FMR LLC raised its holdings in shares of Intel by 5.5% in the first quarter. FMR LLC now owns 21,740,723 shares of the chip maker’s stock valued at $1,167,477,000 after purchasing an additional 1,133,474 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Intel by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,417,125 shares of the chip maker’s stock valued at $723,526,000 after purchasing an additional 824,109 shares during the last quarter. APG Asset Management N.V. increased its holdings in Intel by 8.0% during the fourth quarter. APG Asset Management N.V. now owns 10,165,374 shares of the chip maker’s stock worth $417,321,000 after buying an additional 755,800 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Intel by 1.7% during the fourth quarter. Nordea Investment Management AB now owns 7,145,109 shares of the chip maker’s stock worth $335,319,000 after buying an additional 122,805 shares during the last quarter. 66.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of INTC stock traded down $1.19 during trading hours on Friday, reaching $45.98. The stock had a trading volume of 23,644,529 shares, compared to its average volume of 24,156,780. The stock has a fifty day simple moving average of $49.06. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. Intel Co. has a 12 month low of $42.36 and a 12 month high of $59.59. The firm has a market capitalization of $208.96 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.44 and a beta of 0.88.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $15.70 billion. During the same period last year, the business earned $1.04 earnings per share. Intel’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts expect that Intel Co. will post 4.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.74%. Intel’s dividend payout ratio (DPR) is currently 27.51%.

In other news, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.92, for a total value of $127,758.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total transaction of $31,107.76. Following the completion of the transaction, the executive vice president now owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The disclosure for this sale can be found here. Insiders sold 36,524 shares of company stock valued at $1,844,221 over the last 90 days. 0.02% of the stock is owned by company insiders.

A number of analysts recently issued reports on the stock. BMO Capital Markets downgraded shares of Intel from an “outperform” rating to a “market perform” rating and set a $47.99 price objective for the company. in a report on Thursday, May 9th. Atlantic Securities assumed coverage on shares of Intel in a report on Monday, July 22nd. They set an “underweight” rating and a $38.00 price objective for the company. Morgan Stanley raised their price objective on shares of Intel from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein restated a “sell” rating and set a $39.00 price objective on shares of Intel in a report on Friday, July 26th. Finally, Cascend Securities restated a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Intel in a report on Friday, July 26th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $54.31.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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