River Wealth Advisors LLC Reduces Position in Intel Corp. (INTC)
River Wealth Advisors LLC cut its position in shares of Intel Corp. (NASDAQ:INTC) by 18.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,785 shares of the chip maker’s stock after selling 3,371 shares during the period. River Wealth Advisors LLC’s holdings in Intel Corp. were worth $485,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Carnick & Kubik LLC bought a new stake in shares of Intel Corp. during the first quarter worth $100,000. Proficio Capital Partners LLC raised its stake in shares of Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of Intel Corp. by 18.7% in the second quarter. Financial Management Professionals Inc. now owns 3,960 shares of the chip maker’s stock worth $129,000 after buying an additional 625 shares in the last quarter. Parasol Investment Management LLC raised its stake in shares of Intel Corp. by 34.3% in the second quarter. Parasol Investment Management LLC now owns 3,990 shares of the chip maker’s stock worth $131,000 after buying an additional 1,020 shares in the last quarter. Finally, American National Bank raised its stake in shares of Intel Corp. by 103.2% in the second quarter. American National Bank now owns 4,459 shares of the chip maker’s stock worth $146,000 after buying an additional 2,265 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
Shares of Intel Corp. (NASDAQ:INTC) traded down 1.87% on Tuesday, reaching $37.31. 6,122,929 shares of the company traded hands. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The stock has a market capitalization of $176.51 billion, a P/E ratio of 18.09 and a beta of 1.09. The stock’s 50 day moving average price is $36.63 and its 200-day moving average price is $33.54.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities analysts forecast that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. Intel Corp.’s payout ratio is 50.24%.
A number of analysts recently weighed in on INTC shares. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, June 21st. Argus reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research note on Wednesday, June 29th. Vetr raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $32.02 price objective on the stock in a research note on Tuesday, June 28th. Canaccord Genuity raised their price objective on shares of Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 18th. Finally, Brean Capital raised their price objective on shares of Intel Corp. from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, July 18th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.65.
In other news, Chairman Andy D. Bryant sold 445,095 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the sale, the vice president now owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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