Shell Asset Management Co. Lowers Position in Intel Co. (NASDAQ:INTC)

Shell Asset Management Co. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,485 shares of the chip maker’s stock after selling 59,409 shares during the period. Intel comprises approximately 0.7% of Shell Asset Management Co.’s investment portfolio, making the stock its 20th largest holding. Shell Asset Management Co.’s holdings in Intel were worth $25,896,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INTC. Lion Street Advisors LLC purchased a new position in shares of Intel during the 1st quarter valued at approximately $29,000. Evolution Wealth Advisors LLC lifted its position in shares of Intel by 1,636.1% during the 4th quarter. Evolution Wealth Advisors LLC now owns 625 shares of the chip maker’s stock valued at $37,000 after buying an additional 589 shares in the last quarter. Clear Investment Research LLC lifted its position in shares of Intel by 6,500.0% during the 4th quarter. Clear Investment Research LLC now owns 726 shares of the chip maker’s stock valued at $43,000 after buying an additional 715 shares in the last quarter. Sailer Financial LLC purchased a new position in shares of Intel during the 4th quarter valued at approximately $43,000. Finally, ICW Investment Advisors LLC purchased a new position in Intel in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Shares of NASDAQ:INTC traded down $0.01 during midday trading on Friday, reaching $61.97. 835,905 shares of the company’s stock were exchanged, compared to its average volume of 23,972,394. The firm’s 50 day simple moving average is $58.42 and its two-hundred day simple moving average is $58.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.35. The stock has a market cap of $267.17 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.75 and a beta of 0.82. Intel Co. has a fifty-two week low of $42.86 and a fifty-two week high of $69.29.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 23rd. The chip maker reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Intel had a return on equity of 31.64% and a net margin of 30.02%. The company had revenue of $19.83 billion during the quarter, compared to analysts’ expectations of $18.65 billion. During the same period last year, the business posted $0.89 EPS. Intel’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts predict that Intel Co. will post 4.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, May 6th. Intel’s dividend payout ratio (DPR) is 27.10%.

INTC has been the topic of a number of research reports. Vertical Group initiated coverage on Intel in a report on Tuesday, March 24th. They issued a “buy” rating on the stock. Rosenblatt Securities restated a “sell” rating on shares of Intel in a report on Friday, January 24th. Argus upgraded Intel from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Wednesday, March 25th. Tigress Financial restated a “buy” rating on shares of Intel in a report on Tuesday, January 28th. Finally, FIX raised their price objective on Intel from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 24th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $64.97.

In related news, EVP Navin Shenoy sold 10,935 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $52.81, for a total transaction of $577,477.35. Following the completion of the transaction, the executive vice president now directly owns 74,844 shares in the company, valued at approximately $3,952,511.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.67, for a total value of $2,823,824.48. Following the transaction, the insider now owns 126,240 shares of the company’s stock, valued at $7,658,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 118,470 shares of company stock valued at $7,005,231 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

Intel Profile

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.

Further Reading: What does an equal weight rating mean?

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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