Ackerman Capital Advisors LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

Ackerman Capital Advisors LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,000 shares of the chip maker’s stock after selling 3,000 shares during the quarter. Ackerman Capital Advisors LLC’s holdings in Intel were worth $412,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Delta Asset Management LLC TN grew its stake in Intel by 0.9% in the 2nd quarter. Delta Asset Management LLC TN now owns 23,170 shares of the chip maker’s stock valued at $1,109,000 after acquiring an additional 200 shares during the last quarter. Mount Vernon Associates Inc. MD grew its stake in Intel by 0.4% in the 2nd quarter. Mount Vernon Associates Inc. MD now owns 46,004 shares of the chip maker’s stock valued at $2,202,000 after acquiring an additional 200 shares during the last quarter. NTV Asset Management LLC grew its stake in Intel by 0.7% in the 2nd quarter. NTV Asset Management LLC now owns 28,219 shares of the chip maker’s stock valued at $1,351,000 after acquiring an additional 208 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC grew its stake in Intel by 3.0% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,066 shares of the chip maker’s stock valued at $340,000 after acquiring an additional 209 shares during the last quarter. Finally, Apriem Advisors grew its stake in Intel by 3.1% in the 4th quarter. Apriem Advisors now owns 7,074 shares of the chip maker’s stock valued at $332,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

In related news, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $51.18, for a total value of $128,410.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andy D. Bryant sold 13,609 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the transaction, the chairman now owns 450,591 shares in the company, valued at approximately $23,146,859.67. The disclosure for this sale can be found here. Insiders sold 41,541 shares of company stock worth $2,135,306 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Shares of INTC traded up $0.75 during mid-day trading on Wednesday, hitting $50.48. The company had a trading volume of 7,452,588 shares, compared to its average volume of 22,940,713. The business’s 50-day simple moving average is $49.57 and its 200-day simple moving average is $49.59. 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 1-year low of $42.36 and a 1-year high of $59.59. The stock has a market cap of $224.25 billion, a PE ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 0.91.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. During the same period last year, the company earned $1.04 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that Intel Co. will post 4.38 earnings per share for the current year.

The business also recently announced a — dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.

INTC has been the topic of a number of research reports. Robert W. Baird set a $65.00 price objective on shares of Intel and gave the company a “buy” rating in a research note on Wednesday, September 4th. Wedbush increased their price objective on shares of Intel from $37.50 to $42.90 and gave the company an “underperform” rating in a research note on Friday, July 26th. Barclays reissued a “sell” rating and issued a $40.00 price objective on shares of Intel in a research note on Friday, July 26th. Cascend Securities reaffirmed a “buy” rating and set a $65.00 price target (up from $55.00) on shares of Intel in a research note on Friday, July 26th. Finally, Benchmark began coverage on shares of Intel in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. Eight investment 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. Intel presently has an average rating of “Hold” and a consensus price target of $53.79.

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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