Ritholtz Wealth Management Boosts Position in Intel Co. (NASDAQ:INTC)

Ritholtz Wealth Management boosted its position in shares of Intel Co. (NASDAQ:INTCGet Rating) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,146 shares of the chip maker’s stock after acquiring an additional 5,920 shares during the quarter. Ritholtz Wealth Management’s holdings in Intel were worth $1,988,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Landmark Wealth Management LLC purchased a new stake in Intel in the first quarter worth about $31,000. Lansing Street Advisors purchased a new stake in Intel in the first quarter worth about $28,000. Lloyd Advisory Services LLC. increased its position in Intel by 2,835.0% in the first quarter. Lloyd Advisory Services LLC. now owns 587 shares of the chip maker’s stock worth $29,000 after buying an additional 567 shares in the last quarter. Emerald Advisers LLC purchased a new stake in Intel in the first quarter worth about $38,000. Finally, Gibson Wealth Advisors LLC purchased a new stake in Intel in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 61.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INTC shares. Wedbush dropped their price objective on Intel from $44.00 to $35.00 in a research note on Friday, July 29th. Susquehanna dropped their price objective on Intel from $42.00 to $40.00 in a research note on Tuesday, July 19th. Susquehanna Bancshares lowered Intel to a “negative” rating and dropped their price objective for the stock from $40.00 to $33.00 in a research note on Friday, July 29th. Robert W. Baird lowered Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $60.00 to $40.00 in a research note on Friday, July 29th. Finally, Citigroup dropped their price objective on Intel from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $42.96.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 14,800 shares of Intel stock in a transaction on Wednesday, August 24th. The shares were bought at an average cost of $33.86 per share, for a total transaction of $501,128.00. Following the acquisition, the chief executive officer now directly owns 77,216 shares of the company’s stock, valued at approximately $2,614,533.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.02% of the company’s stock.

Intel Trading Down 1.8 %

Shares of NASDAQ INTC traded down $0.50 during midday trading on Friday, hitting $27.57. The company’s stock had a trading volume of 812,658 shares, compared to its average volume of 39,319,704. The company has a current ratio of 1.86, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $34.34 and its two-hundred day moving average is $40.39. Intel Co. has a 12-month low of $28.04 and a 12-month high of $56.28. The firm has a market cap of $113.20 billion, a P/E ratio of 6.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.65.

Intel (NASDAQ:INTCGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.40). Intel had a return on equity of 16.65% and a net margin of 26.03%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $17.93 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s quarterly revenue was down 17.3% compared to the same quarter last year. As a group, equities research analysts expect that Intel Co. will post 2.25 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.365 dividend. The ex-dividend date is Friday, November 4th. This represents a $1.46 annualized dividend and a dividend yield of 5.30%. Intel’s payout ratio is 31.26%.

Intel Company Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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